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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, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
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- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- The University of Queensland
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
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