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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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Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Friday, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Monday, 31 July 17
KOMIPO INVITES BIDS FOR 750K MT OF 5,700 KCAL/KG NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 750,000 Metric Tons of Bituminous coal for its B ...
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Showing 1986 to 1990 news of total 6871 |
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- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- White Energy Company Limited
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Australian Coal Association
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
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