We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the last years. T/C rates have fallen to very low levels and as a result the resistance that vessels were showing to further decrease on asset prices has started to show signs of cracking. The correction on prices has been evident on mostly larger tonnage.
On the VLs, which are 15-yrs old we have witnessed a large correction on asset prices, which was most pronounced during q2 of 2017. To put things into perspective the “GOOD NEWS” (319,430dwt-blt ’02, S. Korean) was sold to New Shipping in May 2017 for $21.0m, while the price for similar aged unit today remains at the same levels. An example of this is the “ROKKOSAN” (300,257dwt-blt ’03, Japan), which was recently sold to Greek buyers for $21.0m.
In the Suezmax sector, similar price elasticities are also explored. The 12-yr old “EUROGLORY” (166,647dwt-blt ’05, Croatia) was sold to Eurotankers in June 2017 for $20.5m, while the 13-yrs old sisters “UNITED KALAVRYTA” (159,156 dwt-blt ’05, S. Korea) and the “UNITED LEADERSHIP” (159,062 dwt-blt ’05, S.Korea), were sold to Greeks in May 2018 for region $18.0m.
In the Aframax sector we have noted a similar situation with regards to asset prices. However the number of transactions is greater compared to larger segments. This specific size has traditionally attracted the interest of the buyers looking at the bigger tonnages (Vls, Suezmaxes and Afras). Despite the big interest on the specific segment and the competition amongst buyers, asset values remained steadily negative. The “EUROFORCE” (106,361 dwt-blt ’02, Japan) was bought by Eurotankers on February 2017 for $11.5m, while on April 2017 both “BULL SUMATERA” (106,560 dwt-blt ’02, Japan) and the “KALIMANTAN” (106,548 dwt-blt ’02, Japan) were bought by Indonesian buyers for $10.5 each.
On the contrary within April 2018 the “GENER8 DEFIANCE” (105,538 dwt-blt ’02, Japan) sold for $10.2m and two weeks ago the “KRASNODAR” (115,605 dwt-blt ’03, S.Korea) was sold for $9.5m.
Lastly, the MR prices showed the biggest resistance. For a long period of time, sellers of 13-yrs old Korean/Japanese build MRs were declining offers below $10.0. An example is the “BORA” (46,718 dwt-blt ’04, S. Korea), which bought by Unibros during March 2017 for $11.4. The same prices have been noticed during q4 2017. The ex-“SEAWAYS ANDROMAR” (46,195 dwt-blt ’04, S. Korea) and the ex-“SEAWAYS ARIADMAR” (46,205 dwt-blt ’04, S. Korea), were sold to different Greek buyers for $11.2m each. However the picture is changing in 2018. The pressure and the low expectations in wet market have caused a reduction in asset values to levels below $10.0. Within June we have witnessed the below deals: The “ENDEAVOUR” (46,101 dwt-blt ’04, S. Korea) was sold to Greeks for $9.8m and the “BIENDONG MELODY” (45,937 dwt-blt ’04, Japan) was sold for $9.0m.
It is clear that the current asset prices are at a 2-year low. How much further down they can go remains to be seen. Tankers at current prices are definitely the segment that owners and investors should be looking at. While no one is a prophet, you can’t go wrong with the age-old adage of “buy low; sell high”.
By Konstantinos Kontomichis
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.
|
|
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
|
|
|
Showing 566 to 570 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Australian Coal Association
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
|
| |
| |
|
