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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, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
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Showing 1981 to 1985 news of total 6871 |
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- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
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