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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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Monday, 09 October 17
INDIA'S COAL IMPORTS UP 10% IN SEPT AS POWER PLANTS FACE FUEL SHORTAGE - PTI
Coal imports rose by 9.5 per cent to 18.33 million tonnes (MT) in September, after having registered year-on-year decline for five months in a row, ...
Friday, 06 October 17
U.S. WEEKLY COAL OUTPUT HAS REBOUNDED AFTER DECLINING 5 WEEKS IN A ROW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and act ...
Tuesday, 03 October 17
VIETNAM'S COAL-FIRED THERMAL POWER DEPENDENT ON CHINA - VIETNAMNET BRIDGE
A report from the Green Innovation and Development Centre (GreenID) showed that, as of the end of last year, of 27 coal-fired thermopower plants, 1 ...
Tuesday, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
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Showing 1921 to 1925 news of total 6871 |
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- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Australian Coal Association
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Planning Commission, India
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