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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, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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Showing 2081 to 2085 news of total 6871 |
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- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
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