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Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
 During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Imabari (28kdwt Shimanami blt’08), which was sold to Greek Buyers for USD 8.5m. About a year ago and while the BHSI stood at similar levels, the sale of the Japanese M/V ex- Laser Ace(28kdwt Shimanami blt’07) also to Greek buyers, materialized at USD 7.7 m. Thus, with the index at similar levels, the price of a 10-yr old Japanese Handy has shown an increase of 10 %. I would say that this is due to strong sentiment among owners operating in this segment and if freight rates remain at healthy levels we will see further appreciation on asset prices.
As far as 10-yr old Supramax units are concerned and while the BSI ended last week at 1,197 points, we had the sale of the M/V Medi Firenze (58kdwt Cebu blt’08) at USD 13.3m with the vessels dry docking due in December. This is the same price that Nova Marine paid for the smaller and older ship, the M/V ex- Darya Vishnu (56kdwt Mitsui blt’06) back in March 2018, despite the fact that the index is now standing roughly 10% above March levels.
Therefore, one could argue that this segment is nowadays experiencing a slowdown in SnP activity compared to last March, with a possible softening in asset values around the corner. In my view though, this is strictly due to several ships being up for sale in this segment, which gives confidence to firm buyers who are currently lowballing and searching for a good deal instead of competing and pushing the barrier higher. Currently, focus has shifted on the M/V Triton Seagull (56kdwt Mitsui blt’07) and the M/V Queen Halo (58kdwt Tsuneishi Cebu blt’10) that received offers yesterday and today respectively.
Furthermore, on the Panamax sector we noticed this week the sale of the M/V Double Prosperity (76kdwt Imabari blt’05) to clients based in Qatar for USD 10.6m. We feel that this depicts the low buying appetite for similar vessels, while there is the exception of traditional buyers in this segment, who are currently looking to quickly take advantage of current soft prices. Our focus is now on the M/V AOM Milena (76kdwt Shin Kasado blt’09) that is receiving offers today.
As in the case of Supramaxes, the softness in asset prices can only be explained by the abrupt oversupply of sales candidates that came for sale late in the summer in combination to the handful of quiet buyers who cautiously waited to see a market reaction coming into Q4. After all average earnings for Panamaxes and Supramaxes are currently up 15% and 22% compared to mid-summer.
I am confident that if rates continue to rise and we get a healthy finish throughout Q4 this will convince hesitant buyers to go the extra mile and come on board ships boosting competition as a result. It will also alleviate hesitant financial stakeholders to regain confidence in the market, which should eventually lead to an increase of available finance. As a result, new eager buyers are expected to come forward, pushing existing buyers to offer higher in order to finally manage to get their hands on the ship they are looking for. All in all, given the current trend, it might not take too long until asset prices once again start moving north.
By Ilias M. Lalaounis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
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, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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Showing 1586 to 1590 news of total 6871 |
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- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- The University of Queensland
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- PTC India Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
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