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Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
 In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do with traditionally crude carriers and 29 involving ships from 33kdwt up to 78kdwt. As brokers we can say that even if there were twice as many ships available for sale there would still be buyers left hungry for tonnage. The strategy of investing in a low market seems to be in full effect now. Shipowners are willing to purchase and subsidize a tanker for a period of time until better days are on the horizon.
So, are better days upon us soon?
The same question was asked back in 2016 when the dry market was in trouble and assets were being sold for almost 40% less compared to now. Many back then thought that the market would sink even further. Instead, improving fundamentals and a consequent change of mood resulted in an asset value rally that lasted all the way until the second quarter of 2018.
As far as the tanker market is now concerned, the reality is that better days have been anticipated during the past couple of years, with different milestones set for crude and product tankers respectively. The product story, the BWMS system story and the demolition story were some of them, with the last one being tight up mostly to crude carriers that saw an overwhelming increase in scrapping activity. Now the latest milestone is 2020 for the product segment and early 2019 for crude tankers.
The product market milestone has a lot to do with the low sulfur regulations and an anticipated need for low sulfur fuel that will render product carriers from - MRs to LR2 (LR3 are also being mentioned a lot also) - the vessels of choice. On the crude side, things are already looking better every day for the past couple of weeks. Sentiment is positive and ships for sale are scarce, while depending on the resilience of the rates we might actually see a rise on values sooner rather than later.
On the other hand there is an abundance of MR candidates of 9 up to 14 years old, Japanese owned and built. Interesting enough we don’t see a lot of Korean built MRs for sale, but that has to do mostly with the profile of owners. Japanese owned ships are usually placed in the market just before their employment expires and with the frequency we see new ships being circulated we can assume that charterers are not very keen to extend employment. A plethora of ships usually leads to lower prices as buyers have the tendency to either wait or offer less than the last done reported deal when supply is ample. Either way the product segment is trailing its crude counterpart, at least for now when it comes to sentiment.
It seems that the market is bottoming out and depending on the respective strategy of each owner there is a variety of opportunities to invest. As it is always the case when a sector has suffered bad earnings for a prolonged period of time, resulting in diminishing asset prices, buyers can assess easier the market as when to invest, and now more than ever it is a buyers market.
By Timos Papadimitriou
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
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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Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
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Showing 1591 to 1595 news of total 6871 |
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- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Planning Commission, India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- The University of Queensland
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- VISA Power Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
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