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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Planning Commission, India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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