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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, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
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Showing 2026 to 2030 news of total 6871 |
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- Minerals Council of Australia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
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