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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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Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
Thursday, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
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Showing 1956 to 1960 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
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