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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, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
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Showing 1956 to 1960 news of total 6871 |
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- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Planning Commission, India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- PTC India Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- The University of Queensland
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Marubeni Corporation - India
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