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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, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
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Showing 1911 to 1915 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
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