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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, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
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Showing 1961 to 1965 news of total 6871 |
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- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Central Java Power - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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