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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, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
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Showing 2046 to 2050 news of total 6871 |
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- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Australian Coal Association
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
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