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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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Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
Tuesday, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
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Showing 1931 to 1935 news of total 6871 |
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
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