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Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
 If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growth in dry bulk seaborne demand during 2017 so far it is true that you have every reason to be positive.
Although demand has indeed been the pillar of the recovery so far, supply being controlled definitely played its part and it is encouraging to see that even today in a much healthier market and amidst still competitive newbuilding prices, owners still perceive second-hand tonnage prices as fairly low.
I know what you probably think right now: “Fairly low? How are prices fairly low when a 10-year old Panamax last year was valued at USD 8 million and today the price for the same vessel is in excess of USD 14 million.” This is a fair question indeed, although you have to bear in mind that during 2014 amidst a falling market, a 10-year old Japanese built Panamax was being sold for around USD 22 million.
As far as more modern tonnage is concerned – particularly Kamsarmax vessels of around 5 years of age - we see prices having steadied. This is evident by the sale of the Bariba vessel “PRIVOCEAN” (81,434dwt-blt ‘13, S. Korea), which went to Eastmed for USD 21 million at the end of last month, while back in April, following a market firming for eight months straight the M/V ex-SEATRUST (81,640dwt-blt ’13, S. Korean) was sold to Diana for USD 22.6 million.
At the same time, Supramax second-hand tonnage is enjoying most of the buying interest with the number of perspective Buyers for each candidate even reaching double digit sometimes. Indeed the >55kdwt Supra is the most popular asset at the moment attracting not only a lot of “old-school” owners but also pure asset players, with both having been convinced by the resistance this size displays even when the market comes under pressure.
As far as Handysize tonnage is concerned, we had been noticing that Buyers looking at 28kdwt as well as >32kdwt candidates were rather specific up until very recently but this is now changing. In fact, during the past week we have been seeing a lot of fresh interest from owners who had been sitting on the sidelines and hadn’t inspected in a long time and who now seem to be realizing that there could be a potential upside in asset values as earnings in the size slowly but steadily improve.
In striking contrast to all of the above sizes, it is interesting to note the fact that as far as the Capesize second-hand market is concerned, activity and prices are kept in check. The prevailing hesitancy is being fed by the substantial gap between Sellers’ and Buyers’ ideas.
Either or, it seems that the last quarter of the year is so far meeting – and maybe in some cases even exceeding – market expectations in terms of both freight rate performance and activity in the second-hand market, and as such, we expect that interest for second-hand tonnage will remain as strong as it is now at least for the next couple of months.
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, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
Wednesday, 29 November 17
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
In line with most expectations for the end of this month, during the past days the Dry Bulk market realized a significant rebound that sent the BDI ...
Tuesday, 28 November 17
THE DRY BULK MARKET HAS SHOWN A REMARKABLE RECOVERY THIS YEAR - GEORGE LAZARIDIS
The Dry Bulk market has shown a remarkable recovery this year with the average earnings having increased by around 63% this year so far compared to ...
Friday, 24 November 17
U.S. PRODUCED 14.9 MMST FOR THE WEEK ENDING NOV 18; UP 0.9% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 23 November 17
PANAMAX: ANOTHER SLOW AND UNEVENTFUL WEEK; DECREASING FREIGHT RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
A quiet start to the week. USG closed last week a bit tighter, and continued into the new week on a positive tone with little concluded, ...
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Showing 1866 to 1870 news of total 6871 |
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- Marubeni Corporation - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
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