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Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
 With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over at the tanker side and for a good reason. Things have been mostly quiet for the last seven months with the exception of short periods of increased activity during the summer months.
The tanker market has evolved into a market that requires fast reflexes. Cycles are becoming shorter, usually lasting 16 to 18 months, thus creating a sense of uncertainty as far as when to off load a respective asset or invest in tonnage.
Taking into consideration that tankers assets are depreciated differently compared to bulkers and how oil majors can influence trends as far as buying, selling and contracting tonnage, it is very common to witness price irregularities on the transactions within the same time period.
Electric cars, MGO regulations, developing economies, clean and renewable energy policies and last but not least the “Paris climate Accord”, all play a part on the everlasting and ongoing discussion of what the influence on tanker demand and supply will be. If you add to the mix the BWTS regulations that will eventually start being implemented even after the latest extension, then making an educated guesstimate on how to position one’s self as an investor, demands nerves of steel and a strong stomach.
Despite all of the above there has been some appetite for tonnage. Buyers do emerge from time to time looking for tonnage built anytime; from late ‘90s crude units up to 4-3 year old MRs and LRs. Of course the demand for tankers is not anywhere close to that for dry bulk tonnage, but there is no shortage of investors willing to buy especially on the product side.
The MR segment was rendered doomed a few years ago due to a rather large order book, but overall the segment has demonstrated impressive resilience despite the current dip on hire rates. Now the same concern is raised for crude ships and for the same reason. Again time will tell.
Regulations will have an effect on older tonnage where the cost of retrofitting the required equipment could defeat the purpose, eventually leading to the removal of ships from the water. Now considering that ordering has been in check for the last 2 years, the prospects of the next 2-4 years don’t look so bad especially for the younger tonnage.
As far as the near future is concerned and as it has been more than a few months that the market has remained under pressure, the expectation that better days will soon come doesn’t appear very unrealistic. In fact the majority of market participants have been widely adopting the idea that signs of recovery will start being visible sooner rather than later.
This provides sellers the appropriate confidence to resist lowering their ideas. Buyers on the other hand don’t feel that prices need to be a lot lower than where they are now. Overall at this stage buying tonnage does not seem as a bad move. After all investing in a slow market is never considered to be a hasty move.
By Timos Ppadimitriou
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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Wednesday, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
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Showing 1906 to 1910 news of total 6871 |
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- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Parliament of New Zealand
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
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