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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, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
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- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Marubeni Corporation - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
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