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, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
|
|
|
Showing 686 to 690 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
|
| |
| |
|
