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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, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
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