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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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Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
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