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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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Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
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- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- PTC India Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
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