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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, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Standard Chartered Bank - UAE
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
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