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, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when ...
Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
|
|
|
Showing 1156 to 1160 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
|
| |
| |
|
