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, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
|
|
|
Showing 1441 to 1445 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
|
| |
| |
|
