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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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- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
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