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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, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
Monday, 09 October 17
INDONESIAN COAL PRICE REFERENCE HITS NEW HIGH FOR 2017
COALspot.com: Indonesian coal benchmark price surges 2.13% in October month over month, the latest ministerial decree showed.
The benchmark pr ...
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Showing 1916 to 1920 news of total 6871 |
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- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- VISA Power Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
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