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