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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, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- The University of Queensland
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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