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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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Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
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Showing 1951 to 1955 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Indika Energy - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- White Energy Company Limited
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Australian Coal Association
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- PTC India Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
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