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Wednesday, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
 With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in 2017, it is no wonder that momentum in the Dry Bulk market has become particularly strong, pushing second-hand and lately newbuilding prices as well to higher levels.
The speed in which second hand prices have been firming is indeed impressive across all dry bulk sizes but particularly Panamaxes and Capes, where the average monthly price for a 5-yr old vessel has increased more than 19% and 20% respectively within just one month. A very representative example of this jaw dropping increase is the sale of the Panamax ‘RED GARDENIA’ (76,294dwt-blt 05, Japan), which was sold at the end of February at $7.3m and the sale of the Panamax ‘ALESSANDRO VOLTA (76,806dwt-blt 05, Japan, sold at $10.0m last month.
This strong upward movement in second-hand prices has undoubtedly brought euphoria among owners and has given extra incentive to invest to those who have been feeling a bit insecure to do so, due to this very speedy increase in prices that has brought back memories of past asset bubbles. Saying that, there is a number of medium sized shipowners who have already moved back to the sidelines and there is a good chance to see these owners return to the second-hand market in the near future to invest in the tanker or the container market, where prices have been less strong and could probably offer achieve a bigger premium down the line compared to dry bulkers.
At the same time, collaborations between private equity funds and shipowners have been intensifying again, as the former seem to once more be intrigued by this recent positive reversal in the freight market. So if you wonder “Where did this guy find the money to buy?” the answer is most probably that a fund has provided debt or equity.
This is also the case in regards to newbuilding investments, which started to pop up here and there during the past month. Indeed, as sale candidates have decreased and in addition to the fact that prices of modern second-hand tonnage have started to close the gap with the respective newbuilding price, has caused a spike in newbuilding enquiries by a big number of owners, a substantial part of which has already translated in either firm orders or discussions in the LOI stage.
On the Tanker side things have been less rosy as far as asset prices and SnP activity is concerned. The softening trend in the freight market during the past year has pushed second-hand tanker prices down during the past months but it seems that these cheaper prices have not inspired strong SnP activity.
Indeed potential Buyers were waiting for even lower ideas on behalf of Sellers, with the former seeing no major reason to offer greater discounts on their vessels amidst a freight market that hasn’t been bad. Saying that, we have been lately noticing a few big names starting to invest in the tanker sector once again, fact which might eventually help towards steadier and possibly higher values ahead…after all opportunity is in the eye of the beholder.
By Giannis Andritsopoulos
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.
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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
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