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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, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
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