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.
|
|
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
|
|
|
Showing 3181 to 3185 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
|
| |
| |
|
