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