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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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Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
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- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Trasteel International SA, Italy
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