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.
|
|
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
|
|
|
Showing 901 to 905 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- The University of Queensland
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
|
| |
| |
|
