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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.
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Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
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Showing 1681 to 1685 news of total 6871 |
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- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- The University of Queensland
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
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