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, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
|
|
|
Showing 1766 to 1770 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Planning Commission, India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
|
| |
| |
|
