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Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
 Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners investing in the dry bulk market have been particularly busy lately, there is limited interest in the second-hand tanker market, activity in which is about 68% compared to the first quarter of 2016.
‘Sluggishness’ is therefore the defining characteristic used to describe the situation in the tanker SnP market, while in the freight market, rates maintain healthy, well above OPEX levels, but not high enough to inspire overwhelming positive expectations. This trend has resulted in decreasing asset prices and may well be the window of opportunity for owners wishing to invest in vessels priced at fairly reasonable levels.
Looking into the MR segment, the table below gives a breakdown of values for different asset classes since 2012.
The last done “MARE ACTION” (30,058dwt-blt 05, S. Korea), which was sold for a price close to $10.0m together with the small 15-yr old MR2, basis SS/DD due, which can be fixed close to $8.0m, are indicative of the particularly attractive prices currently prevailing in the sector.
Despite those rather attractive prices in the tanker market though, it is SnP activity in the dry bulk sector that has been monopolizing everyone’s interest lately. However, after consecutive weeks of increasing asset prices and with more than 200 dry bulk SnP deals - ranging from Handies to Capes – at the closing of Q1, there are a few voices now in the market insisting that this rally will gradually show signs of cracking and exhaustion.
The above estimation is based on a couple of things. On one hand potential buyers have gradually started to lose interest in paying todays’ increased levels, thinking this momentum might ease at some point and push prices – even slightly – down.
On the other hand, Sellers seem to be the one in control at the moment, able to set the premium over the last done and consequently asking for significantly higher prices even a few days after the last reported deal. The above market dynamics create a gap in the second hand market that is capable of restricting second hand activity until market perception becomes more accurate with both buyers and sellers re-adopting a more realistic attitude.
To summarize, while the dry bulk and tanker markets may be at different stages of their respective cycles, they both certainly display interest for different reasons nonetheless.
By Nasos Soulakis
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
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- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Australian Coal Association
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
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