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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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Thursday, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
Supramax
Another slow start to the week with somewhat softening rates and few fixtures.
According to Fearnleys Weekly Dry bulk report, the N ...
Thursday, 06 July 17
UNEXPECTED MOVE FROM CHINA BOOSTS COAL PRICES - OIL PRICE
Coal prices have been cooling the last few months — after a spectacular run last year. But news late last week suggests the market is about t ...
Wednesday, 05 July 17
COAL PRICES ROSE IN CHINA, JAPAN AND EUROPE IN 2016 - BP
COALspot.com: Coal prices rose in China, Japan and Europe in 2016 after four years of price declines.
According to bp, the rise in coal prices ...
Wednesday, 05 July 17
TANKER MARKET INSIGHT - KATERINA RESTIS
A war of words blasted last month as the UAE, S. Arabia, Egypt and Bahrain revealed that they are experiencing severe diplomatic issues with the st ...
Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
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Showing 2011 to 2015 news of total 6871 |
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- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Economic Council, Georgia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Minerals Council of Australia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
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