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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, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
Wednesday, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
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Showing 1976 to 1980 news of total 6871 |
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- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
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