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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.
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.
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Tuesday, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
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Showing 1931 to 1935 news of total 6871 |
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- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Parliament of New Zealand
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
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