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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, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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Showing 2041 to 2045 news of total 6871 |
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- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
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