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