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