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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, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
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Showing 1911 to 1915 news of total 6871 |
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- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Planning Commission, India
- Siam City Cement - Thailand
- MS Steel International - UAE
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
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