We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
 We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker fleet development and future outlook. So in this column, we will just outline a few points delivered during the presentation.
On the crude sector, a very anemic supply growth in 2014 helped the market enjoy a very good year in 2015 as the demand for crude carriers surpassed the fleet growth. Consequentially, the improved market led to renewed appetite for new buildings and the orders peaked in 2015. The ships ordered then were for delivery in 2016-2018, so, as demolition bottomed in 2015 and 2016, during those years the fleet grew at levels of five to six percent. Such increased tanker supply has not been matched by the respective demand, so the earnings have remained suppressed. Nevertheless, demolition – supported also by upcoming regulations, is peaking to unprecedented levels at least since 2012 leading to marginal fleet growth despite deliveries. Furthermore, and whilst the average age of the tankers being sold for scrap is around 19years old and only one percent of the crude fleet is over 20years old, eleven percent of the current fleet will be over 20years old by 2020 meaning there are still good grounds for demolition to continue.
The product market looks even more promising. The current orderbook is marginally at ten percent of the fleet and the average age of ships being scrapped is around 22 years. Furthermore, six percent of the product tanker fleet is still over 20 years old and by 2020 ten percent of the fleet will be over 20 years old. The fleet grew sharply in 2013 and 2015 but for the last three years the growth is subdued. In a very plausible scenario for 2018, demand growth is expected to surpass supply growth for the first time since 2015.
What is interesting is that the correlation between earnings and contracting turned negative in 2017. Few but wise and counter-cyclical investors find the stomach to order tanker new buildings when the market is deteriorating. One reason is the attractive prices in all tanker sub-segments; VLCCs at or below $80m, Aframax tankers hovering just over 40 million and MR Tankers in the very low 30s were well below their historical average making them very attractive. The lack of orders during 2016 led the shipbuilders to reduce their pricing and the poor market helped the buyers squeeze them further to the lowest possible contract prices. Pricing, combined with compliance to the upcoming regulations made the new buildings more attractive solutions for a shipowner who wanted to renew or expand his fleet.
Is a shipowner prepared to pay more for a tanker today than six months ago? Definitely NO for an older vessel and marginally YES for a modern ship. Should one be worried about today's tanker orderbook? Yes one should, but one should also keep the fact that the tonnage that can possibly exit the market the next few years is very close to today's orderbook. Have a good one.
lack of activity in the region. Moreover China’s recently imposed 25% tariff on US soybean imports could generate a growth in demand for regional palm oil, as CPO can be used as an alternative in certain circumstances.
By Theodoros Ntalakos
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
|
|
|
Showing 1726 to 1730 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
|
| |
| |
|
