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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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Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
Thursday, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
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Showing 1916 to 1920 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
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