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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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Monday, 09 October 17
INDONESIAN COAL PRICE REFERENCE HITS NEW HIGH FOR 2017
COALspot.com: Indonesian coal benchmark price surges 2.13% in October month over month, the latest ministerial decree showed.
The benchmark pr ...
Monday, 09 October 17
INDIA'S COAL IMPORTS UP 10% IN SEPT AS POWER PLANTS FACE FUEL SHORTAGE - PTI
Coal imports rose by 9.5 per cent to 18.33 million tonnes (MT) in September, after having registered year-on-year decline for five months in a row, ...
Friday, 06 October 17
U.S. WEEKLY COAL OUTPUT HAS REBOUNDED AFTER DECLINING 5 WEEKS IN A ROW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and act ...
Tuesday, 03 October 17
VIETNAM'S COAL-FIRED THERMAL POWER DEPENDENT ON CHINA - VIETNAMNET BRIDGE
A report from the Green Innovation and Development Centre (GreenID) showed that, as of the end of last year, of 27 coal-fired thermopower plants, 1 ...
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Showing 1921 to 1925 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
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