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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 31 July 17
THE PORT OF NEWCASTLE SHIPPED 17.08 PERCENT LESS COAL IN JUNE 2017 COMPARED TO ITS MAY LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,442.8 ...
Monday, 31 July 17
THE FREIGHT MARKET DECLINE THIS PAST WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Panamax indexes show a negative trend week over w ...
Friday, 28 July 17
U.S. WEEKLY COAL PRODUCTION UP 1.4% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 27 July 17
CAMPBELL SHIPPING APPOINTS ISS FOR GLOBAL HUSBANDRY REPRESENTATION SERVICES CONTRACT - ISS
COALspot.com: Inchcape Shipping Services (ISS) is delighted to announce that it has secured a global husbandry representation contract with Campbel ...
Thursday, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
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Showing 1991 to 1995 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Economic Council, Georgia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- The University of Queensland
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
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