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