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.
|
|
Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
|
|
|
Showing 1296 to 1300 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- CNBM International Corporation - China
- The University of Queensland
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
|
| |
| |
|
