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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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Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
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Showing 1911 to 1915 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Australian Coal Association
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
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