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