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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, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
Monday, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
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- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
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