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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, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Planning Commission, India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
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