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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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Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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Showing 2366 to 2370 news of total 6871 |
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- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
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