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, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
|
|
|
Showing 816 to 820 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- The University of Queensland
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
|
| |
| |
|
