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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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Wednesday, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
Wednesday, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
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Showing 1996 to 2000 news of total 6871 |
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- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Planning Commission, India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
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