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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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Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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Showing 2071 to 2075 news of total 6871 |
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- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
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