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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, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
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- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
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