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.
|
|
Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
|
|
|
Showing 1046 to 1050 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
|
| |
| |
|
