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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, 08 August 17
COAL SALES DESTINATION IS DOMINATED BY DEVELOPING COUNTRIES IN ASIA - ADARO
COALspot.com: Adaro Energy has produced 13.27 million tonnes of coal during the second quarter of 2017, from the mines PT Adaro Indonesia, PT Semes ...
Tuesday, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
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Showing 1981 to 1985 news of total 6871 |
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- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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