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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, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
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Showing 1926 to 1930 news of total 6871 |
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- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- MS Steel International - UAE
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
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