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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, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
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, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
Thursday, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Economic Council, Georgia
- ASAPP Information Group - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
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