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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.
The 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.
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Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
Friday, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
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Showing 1946 to 1950 news of total 6871 |
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- GMR Energy Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Economic Council, Georgia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Planning Commission, India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
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