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Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
 The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combination with the intense competition witnessed in the second-hand market for Panamax and Supramax vessels, have made a number of Buyers start looking at this size with increased interest during recent months.
Indeed, since the start of December and up until mid-February buying interest for Handies was particularly intense, with units bigger than 32kdwt built in Japan proving more popular. We even saw two such candidates being sold on a waving inspection basis in order for the respective Buyers to beat competition. As far as Vietnamese and Chinese built candidates, interest has been mainly expressed by companies looking to get bigger and achieve economies of scale consequently focusing on en-bloc deals involving mainly vessels bigger than 35kdwt with 3 generators.
The interest in this size has in fact became so intense that such candidates are now harder to find, which paradoxically turned Buyers once again back to Supramax vessels. The later once again appeared attractive to those looking to invest, as secondhand prices were rather steady during the past couple of months and the strong momentum of 2017 q4 waned considerably throughout the Chinese New Year last month.
The increased interest in the size is indeed very evident in the number of last week’s transactions involving such vessels, with Buyers not discouraged by the admittedly large fleet as very low earnings volatility compared to the bigger sizes is characterizing Supramaxes. At the same time the gap between Japanese and Chinese built candidates has increased massively and is currently calculated at more than 30% in some cases as buying interest for Chinese Supras remains very low indeed.
As far as Kamsarmax vessels are concerned, enquiry for 2009-2012 vessels is particularly firm and hard to satisfy at the moment as such candidates remain few. The gap between Japanese and Chinese vessels is in this case smaller compared to that of Supramaxes, further evidence of the strong appetite Buyers have for such units. A representative example of this can be found in comparing the end of January transaction involving the “KEY SPRING” (80kdwt built ’12 Japan), which was sold for USD 22.5 million and that of the “SEA ACE” (81kdwt built ’12 China) that fetched USD 18.5 million 5 weeks later, a difference of 21%.
As far as Supramax and Panamax vessels built in early 2000, the number of sale candidates is substantially bigger mainly on the back of very low interest by Chinese buyers for 15-year old vessels with inspections and concluded deals on their side concerning almost exclusively vessels trading in the Far East. Talking about 15-year old vessels, the interest Greek buyers have been showing for Capesize candidates of this age is indeed very notable as up until the sale of the “AQUABEAUTY” (171kdwt built ’03 Japan) nobody really believed such interest even existed.
The second quarter of the year, set to kick off in a few weeks, is traditionally considered a strong quarter for bulkers and it will be interesting to see how asset values and interest across the different sizes evolves then.
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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Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
Wednesday, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
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Showing 1796 to 1800 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
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