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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, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - 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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- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
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