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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, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
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Showing 2086 to 2090 news of total 6871 |
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- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
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