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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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- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
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