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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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Monday, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
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Showing 2216 to 2220 news of total 6871 |
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- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Indian Energy Exchange, India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
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