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