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.
|
|
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
|
|
|
Showing 3146 to 3150 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
|
| |
| |
|
