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Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
 During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a number of Greek buyers showing intense interest in 15-year old Supramax and Panamax vessels, which led values in some cases to appreciate even more than 50% in the time span of seven to eight months. Indeed the quick reversal in second hand prices showed its first signs in the very beginning of the year, when a sudden psychology boost post New Year’s on the back of an improving freight market pushed the price of 2005 built Panamax from USD 7.3m at the end of February to around USD 10.0m about two weeks later on.
The momentum in second-hand prices was so strong that throughout the downward correction of freight rates during the second quarter, asset values moved downwards a bit but resisted very well nonetheless. The number of transactions that took place during this time was evidently smaller, as Sellers didn’t seem ready to give in the pressure and some had to withdraw their vessels waiting for a positive correction of the market. A representative example during the past weeks is that of the Panamax bulkers M/V ‘BULK MONACO’ (76,596dwt-blt 08, Japan) and the M/V ‘UNICORN OCEAN’ (78,888dwt-blt 08, Japan), the owners of which were unsatisfied with the offers they received and decided not to sell.
The Capesize market also witnessed a similar trend following the sale of the M/V ‘YURITAMOU’ (180,184dwt-blt 07, Japan) at USD 23.4m in May. The M/V ‘IVS CABERNET’ (177,173dwt-blt 07, Japan) that came up as a sale candidate following the former sale, saw very limited buying interest and the highest offered it received was in the mid USD 16.0m, which led to its withdrawal from the market.
As far as Supramax vessels are concerned, we could say that Chinese candidates are currently the most tempting deals. Indeed, 10-yr old Chinese Supras are now sold at less than USD 9.0m, while a few days ago a Japanese Supra built in 2003 was sold at USD 8.0m.
With the increased asset values on the dry bulker side, many ship owners with diversified fleets have also focused on the tanker market and in some cases on containers as well. The MR segment has witnessed increased SnP interest during the past months, with traditional tanker owners opting for 15-yr old vessels, as prices in that particular class were seen relatively more attractive. Despite this revived investing in the segment though, the pressure on behalf of perspective Buyers is still present, with the market showing a lack of direction at the moment. There are currently some “private” units marketed, belonging to Sellers who appear willing to only sell at levels in line with the market.
Looking at the Aframax/LR2 segment, Sellers here are slightly more confident, as Buyers, in this case, appear more determined to approach their ideas. With regards to the newbuilding market, despite the increased order book in the bigger tanker sizes, there is still a very healthy number of orders being reported pretty much on a weekly basis, with notable interest in S. Korean MRs and Aframaxes/LR2s. Whether this trend will resume throughout the remainder of the year is early to tell, although we won’t be surprised if that proves to be the case given what we have seen during the first half.
By Giannis Andritsopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
Friday, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
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Showing 1901 to 1905 news of total 6871 |
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- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
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