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, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
|
|
|
Showing 831 to 835 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
|
| |
| |
|
