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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, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
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