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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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- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
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