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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, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
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Showing 1926 to 1930 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
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