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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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Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
Monday, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
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Showing 1966 to 1970 news of total 6871 |
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- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
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