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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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Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
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Showing 1936 to 1940 news of total 6871 |
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- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
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