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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, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
Tuesday, 18 October 16
COAL PRICES KEPT CLIMBING
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
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- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
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