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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, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
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- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- The University of Queensland
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Planning Commission, India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
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