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Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
 During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a number of Greek buyers showing intense interest in 15-year old Supramax and Panamax vessels, which led values in some cases to appreciate even more than 50% in the time span of seven to eight months. Indeed the quick reversal in second hand prices showed its first signs in the very beginning of the year, when a sudden psychology boost post New Year’s on the back of an improving freight market pushed the price of 2005 built Panamax from USD 7.3m at the end of February to around USD 10.0m about two weeks later on.
The momentum in second-hand prices was so strong that throughout the downward correction of freight rates during the second quarter, asset values moved downwards a bit but resisted very well nonetheless. The number of transactions that took place during this time was evidently smaller, as Sellers didn’t seem ready to give in the pressure and some had to withdraw their vessels waiting for a positive correction of the market. A representative example during the past weeks is that of the Panamax bulkers M/V ‘BULK MONACO’ (76,596dwt-blt 08, Japan) and the M/V ‘UNICORN OCEAN’ (78,888dwt-blt 08, Japan), the owners of which were unsatisfied with the offers they received and decided not to sell.
The Capesize market also witnessed a similar trend following the sale of the M/V ‘YURITAMOU’ (180,184dwt-blt 07, Japan) at USD 23.4m in May. The M/V ‘IVS CABERNET’ (177,173dwt-blt 07, Japan) that came up as a sale candidate following the former sale, saw very limited buying interest and the highest offered it received was in the mid USD 16.0m, which led to its withdrawal from the market.
As far as Supramax vessels are concerned, we could say that Chinese candidates are currently the most tempting deals. Indeed, 10-yr old Chinese Supras are now sold at less than USD 9.0m, while a few days ago a Japanese Supra built in 2003 was sold at USD 8.0m.
With the increased asset values on the dry bulker side, many ship owners with diversified fleets have also focused on the tanker market and in some cases on containers as well. The MR segment has witnessed increased SnP interest during the past months, with traditional tanker owners opting for 15-yr old vessels, as prices in that particular class were seen relatively more attractive. Despite this revived investing in the segment though, the pressure on behalf of perspective Buyers is still present, with the market showing a lack of direction at the moment. There are currently some “private” units marketed, belonging to Sellers who appear willing to only sell at levels in line with the market.
Looking at the Aframax/LR2 segment, Sellers here are slightly more confident, as Buyers, in this case, appear more determined to approach their ideas. With regards to the newbuilding market, despite the increased order book in the bigger tanker sizes, there is still a very healthy number of orders being reported pretty much on a weekly basis, with notable interest in S. Korean MRs and Aframaxes/LR2s. Whether this trend will resume throughout the remainder of the year is early to tell, although we won’t be surprised if that proves to be the case given what we have seen during the first half.
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, 08 August 17
COAL SALES DESTINATION IS DOMINATED BY DEVELOPING COUNTRIES IN ASIA - ADARO
COALspot.com: Adaro Energy has produced 13.27 million tonnes of coal during the second quarter of 2017, from the mines PT Adaro Indonesia, PT Semes ...
Tuesday, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
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Showing 1981 to 1985 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- PTC India Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
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