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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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Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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Showing 2071 to 2075 news of total 6871 |
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- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
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