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