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Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
 With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over at the tanker side and for a good reason. Things have been mostly quiet for the last seven months with the exception of short periods of increased activity during the summer months.
The tanker market has evolved into a market that requires fast reflexes. Cycles are becoming shorter, usually lasting 16 to 18 months, thus creating a sense of uncertainty as far as when to off load a respective asset or invest in tonnage.
Taking into consideration that tankers assets are depreciated differently compared to bulkers and how oil majors can influence trends as far as buying, selling and contracting tonnage, it is very common to witness price irregularities on the transactions within the same time period.
Electric cars, MGO regulations, developing economies, clean and renewable energy policies and last but not least the “Paris climate Accord”, all play a part on the everlasting and ongoing discussion of what the influence on tanker demand and supply will be. If you add to the mix the BWTS regulations that will eventually start being implemented even after the latest extension, then making an educated guesstimate on how to position one’s self as an investor, demands nerves of steel and a strong stomach.
Despite all of the above there has been some appetite for tonnage. Buyers do emerge from time to time looking for tonnage built anytime; from late ‘90s crude units up to 4-3 year old MRs and LRs. Of course the demand for tankers is not anywhere close to that for dry bulk tonnage, but there is no shortage of investors willing to buy especially on the product side.
The MR segment was rendered doomed a few years ago due to a rather large order book, but overall the segment has demonstrated impressive resilience despite the current dip on hire rates. Now the same concern is raised for crude ships and for the same reason. Again time will tell.
Regulations will have an effect on older tonnage where the cost of retrofitting the required equipment could defeat the purpose, eventually leading to the removal of ships from the water. Now considering that ordering has been in check for the last 2 years, the prospects of the next 2-4 years don’t look so bad especially for the younger tonnage.
As far as the near future is concerned and as it has been more than a few months that the market has remained under pressure, the expectation that better days will soon come doesn’t appear very unrealistic. In fact the majority of market participants have been widely adopting the idea that signs of recovery will start being visible sooner rather than later.
This provides sellers the appropriate confidence to resist lowering their ideas. Buyers on the other hand don’t feel that prices need to be a lot lower than where they are now. Overall at this stage buying tonnage does not seem as a bad move. After all investing in a slow market is never considered to be a hasty move.
By Timos Ppadimitriou
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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Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
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Showing 1926 to 1930 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
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