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.
|
|
Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
...
Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
|
|
|
Showing 1151 to 1155 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
|
| |
| |
|
