We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
 The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD countries (expected to surpass that of the developing countries by 2020), the increased output of refineries and consequently lower price of refined products.
As we have now entered Q2 and still enjoy some very good returns in the tanker market, we are looking back at the MR returns and how the MR fleet unfolds from 2012 to 2017. We see that an average of 126 vessels is delivered per year with a standard deviation of 32 vessels. The returns in the sector have increased due the factors mentioned above as well as the opening of more and more refineries around the world.
150 vessels, almost half of the orderbook, are due to be delivered throughout this year, while in 2016 and 2017 we expect 123 and 25 vessels respectively. Given the overwhelming slowdown in newbuilding activity over the past 9 months and based on the current economic projections we expect the slowdown in orders to persist for a bit longer.
In the meantime we see that the current environment do not support SnP activity, as Sellers push for more seeing their margins improve and buyers are still considering if the premium is worth at this stage.
The MR fleet up to 5 years old is expected to be around 647 vessels at the beginning of 2017. The main characteristic of the majority of the ships that were built post 2013, is that they are of eco design, which currently earns them a premium of around 10% in the t/c contracts compared to non-eco ships. According to our data the time charter fixtures concluded during the period 2012 up to now with a time horizon of 4 months up to 5 years, we observe that the majority concerns T/C contracts of over 1 year period.
The average 1 yr T/C rate for max 5yr old vessels is around 13,850 /day and it has been on an upward path since last year, while the trend for 2 yr T/C is also rising with an average rate of around usd 13,970/day. We also observe that starting 2013 and throughout 2015 rates have been increasing regardless of vessel age in both these period contracts, while 3-yr period contracts are currently being fixed at around usd16,000/ day for vessels up to ten years old, while the existence of the eco design in this case has made no difference in terms of premium.
The remaining of the year will be challenging for spot players as they will have to cope with the scheduled deliveries that will be added in the active service fleet, while in regards to new entrants – especially private equity funds – we could be seeing more aggressive movements in the form of acquisition of modern units on en-block basis. If this proves to be the case, it will also translate to more aggressiveness in fixing long term contracts as well. Obviously charterers will take advantage of the modernization of the fleet and we anticipate that they will hold back and focus on periods of 2-3 years on modern eco imo units at sub usd 16,000 levels.
Stratos Tiniakos
Tanker Chartering 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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
|
|
|
Showing 3091 to 3095 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Australian Coal Association
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
|
| |
| |
|
