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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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Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
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Showing 2091 to 2095 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Aditya Birla Group - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
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