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, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
|
|
|
Showing 1706 to 1710 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- The University of Queensland
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
|
| |
| |
|
