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