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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, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
Monday, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
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Showing 1966 to 1970 news of total 6871 |
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
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