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Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
 Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic basin rates, with a number of owners benefitting from that incident that resulted in firmer rates. However after the restoration of the damage, rates started to soften and steadily returned to before spike levels.
As far as the tanker SnP market is concerned though spikes and mini-booms have yet to be witnessed, as existing asset values have reinforced uncertainty among those who are contemplating to sell as well as perspective Buyers looking invest in preferably lower prices than those quoted at the moment. Hence, Buyers of in sizes and types are limited at the moment, moving mostly speculatively, and Sellers keep testing the SnP market to better assess the value of their respective vessels and eventually sell on a private basis, while newbuilding activity has seen a small increase lately as well.
On the other hand, dry bulk newbuilding activity remains almost non-existent, which is certainly not bad for the market that has been long suffering from oversupply, a problem that could finally get under control sometime towards the end of next year, a time by which most of the order book is scheduled for delivery. This expectations together with the much healthier rates the dry bulk market is witnessing now compared to six months back, has boosted SnP activity in the sector despite the fact that current earnings might not be justifying present asset values.
The recent steadying of Capesize rates has lured investments by a number of owners least expected to trade this size. The volatility Capesize prices have been historically displayed has rewarded again during the last bottoming of prices those ready to assume the risk of such an investment. Indicatively, Stealth Gas bought 2 Capes in Q1 (built in 2006 and 2008 respectively) for a total price of USD 23.5m and sold them in Q3 for USD 29.0m.
Supramax vessels are also enjoying a 50% increase on average since the first quarter of the year on the back of strong buying interest from the Far East and the Indian sub-Continent. More specifically, 15-yr old Supramax are experiencing a biggest asset appreciation compared to 5-yr and 10-yr old candidates, while Panamaxes are witnessing a much more modest increase, calculated at around 15% for 10-yr old vessels and 25% for 5-yr old ones.
Potential Buyers have also been displaying a lot of interest lately for Handysize vessels and more specifically in 5-yr old Chinese tonnage, which is currently being offered at around USD 6.0m, while as far as Japanese tonnage is concerned, the group of owners interested in investing here is much smaller and rather specific.
We do believe this firm SnP activity in bulkers to resume at least until the end of the year and an even healthier freight market should reinforce this momentum. But irrespective if earnings manage to move much higher before the end of the year, the fact that dry bulk rates seem to be resisting to wild volatility for quite some time now has helped sentiment to shift a lot since the dark days of last spring and we all know what an important role sentiment and positive psychology play even in a exceptionally demand/supply fundamentals driven industry like shipping.
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, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
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