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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, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
...
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- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
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