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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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Thursday, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
Thursday, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
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- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
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