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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, 12 September 17
KOMIPO TO IMPORT 2.5 MILLION TONS OF 5700 NAR COAL FOR 5 YEARS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 500,000 Metric Tons of Bituminous ...
Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
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Showing 1946 to 1950 news of total 6871 |
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- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
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