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