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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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- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
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