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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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Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
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Showing 1951 to 1955 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Independent Power Producers Association of India
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