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