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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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Thursday, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
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Showing 1961 to 1965 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
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