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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, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
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Showing 1936 to 1940 news of total 6871 |
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- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- Minerals Council of Australia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
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