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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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Tuesday, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
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Showing 1891 to 1895 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Australian Coal Association
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
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