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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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Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
Thursday, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
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Showing 1956 to 1960 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Australian Coal Association
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
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