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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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Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
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- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
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