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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, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
Thursday, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
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Showing 2001 to 2005 news of total 6871 |
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- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Agrawal Coal Company - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
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