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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.
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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Monday, 31 July 17
THE PORT OF NEWCASTLE SHIPPED 17.08 PERCENT LESS COAL IN JUNE 2017 COMPARED TO ITS MAY LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,442.8 ...
Monday, 31 July 17
THE FREIGHT MARKET DECLINE THIS PAST WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Panamax indexes show a negative trend week over w ...
Friday, 28 July 17
U.S. WEEKLY COAL PRODUCTION UP 1.4% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 27 July 17
CAMPBELL SHIPPING APPOINTS ISS FOR GLOBAL HUSBANDRY REPRESENTATION SERVICES CONTRACT - ISS
COALspot.com: Inchcape Shipping Services (ISS) is delighted to announce that it has secured a global husbandry representation contract with Campbel ...
Thursday, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
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Showing 1991 to 1995 news of total 6871 |
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Indika Energy - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Mercator Lines Limited - India
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