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.
|
|
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
|
|
|
Showing 1736 to 1740 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Planning Commission, India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
|
| |
| |
|
