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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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Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
Friday, 07 July 17
EIA ESTIMATES SHOW U.S WEEKLY COAL PRODUCTION UP 1.7 PERCENT
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.9 million short tonn ...
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Showing 2006 to 2010 news of total 6871 |
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- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
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