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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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Friday, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
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Showing 1951 to 1955 news of total 6871 |
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- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
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