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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - 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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- The University of Queensland
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
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