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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, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
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