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 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Minerals Council of Australia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
|
| |
| |
|
