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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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Wednesday, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
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Showing 1906 to 1910 news of total 6871 |
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- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
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