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Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
 If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growth in dry bulk seaborne demand during 2017 so far it is true that you have every reason to be positive.
Although demand has indeed been the pillar of the recovery so far, supply being controlled definitely played its part and it is encouraging to see that even today in a much healthier market and amidst still competitive newbuilding prices, owners still perceive second-hand tonnage prices as fairly low.
I know what you probably think right now: “Fairly low? How are prices fairly low when a 10-year old Panamax last year was valued at USD 8 million and today the price for the same vessel is in excess of USD 14 million.” This is a fair question indeed, although you have to bear in mind that during 2014 amidst a falling market, a 10-year old Japanese built Panamax was being sold for around USD 22 million.
As far as more modern tonnage is concerned – particularly Kamsarmax vessels of around 5 years of age - we see prices having steadied. This is evident by the sale of the Bariba vessel “PRIVOCEAN” (81,434dwt-blt ‘13, S. Korea), which went to Eastmed for USD 21 million at the end of last month, while back in April, following a market firming for eight months straight the M/V ex-SEATRUST (81,640dwt-blt ’13, S. Korean) was sold to Diana for USD 22.6 million.
At the same time, Supramax second-hand tonnage is enjoying most of the buying interest with the number of perspective Buyers for each candidate even reaching double digit sometimes. Indeed the >55kdwt Supra is the most popular asset at the moment attracting not only a lot of “old-school” owners but also pure asset players, with both having been convinced by the resistance this size displays even when the market comes under pressure.
As far as Handysize tonnage is concerned, we had been noticing that Buyers looking at 28kdwt as well as >32kdwt candidates were rather specific up until very recently but this is now changing. In fact, during the past week we have been seeing a lot of fresh interest from owners who had been sitting on the sidelines and hadn’t inspected in a long time and who now seem to be realizing that there could be a potential upside in asset values as earnings in the size slowly but steadily improve.
In striking contrast to all of the above sizes, it is interesting to note the fact that as far as the Capesize second-hand market is concerned, activity and prices are kept in check. The prevailing hesitancy is being fed by the substantial gap between Sellers’ and Buyers’ ideas.
Either or, it seems that the last quarter of the year is so far meeting – and maybe in some cases even exceeding – market expectations in terms of both freight rate performance and activity in the second-hand market, and as such, we expect that interest for second-hand tonnage will remain as strong as it is now at least for the next couple of months.
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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Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
Wednesday, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
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- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- The University of Queensland
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
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