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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, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
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Showing 1971 to 1975 news of total 6871 |
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- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- The University of Queensland
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
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