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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, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1936 to 1940 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
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