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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, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
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- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
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