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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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Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
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Showing 2016 to 2020 news of total 6871 |
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- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
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