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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, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
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- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- White Energy Company Limited
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- The University of Queensland
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
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