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Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
 In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do with traditionally crude carriers and 29 involving ships from 33kdwt up to 78kdwt. As brokers we can say that even if there were twice as many ships available for sale there would still be buyers left hungry for tonnage. The strategy of investing in a low market seems to be in full effect now. Shipowners are willing to purchase and subsidize a tanker for a period of time until better days are on the horizon.
So, are better days upon us soon?
The same question was asked back in 2016 when the dry market was in trouble and assets were being sold for almost 40% less compared to now. Many back then thought that the market would sink even further. Instead, improving fundamentals and a consequent change of mood resulted in an asset value rally that lasted all the way until the second quarter of 2018.
As far as the tanker market is now concerned, the reality is that better days have been anticipated during the past couple of years, with different milestones set for crude and product tankers respectively. The product story, the BWMS system story and the demolition story were some of them, with the last one being tight up mostly to crude carriers that saw an overwhelming increase in scrapping activity. Now the latest milestone is 2020 for the product segment and early 2019 for crude tankers.
The product market milestone has a lot to do with the low sulfur regulations and an anticipated need for low sulfur fuel that will render product carriers from - MRs to LR2 (LR3 are also being mentioned a lot also) - the vessels of choice. On the crude side, things are already looking better every day for the past couple of weeks. Sentiment is positive and ships for sale are scarce, while depending on the resilience of the rates we might actually see a rise on values sooner rather than later.
On the other hand there is an abundance of MR candidates of 9 up to 14 years old, Japanese owned and built. Interesting enough we don’t see a lot of Korean built MRs for sale, but that has to do mostly with the profile of owners. Japanese owned ships are usually placed in the market just before their employment expires and with the frequency we see new ships being circulated we can assume that charterers are not very keen to extend employment. A plethora of ships usually leads to lower prices as buyers have the tendency to either wait or offer less than the last done reported deal when supply is ample. Either way the product segment is trailing its crude counterpart, at least for now when it comes to sentiment.
It seems that the market is bottoming out and depending on the respective strategy of each owner there is a variety of opportunities to invest. As it is always the case when a sector has suffered bad earnings for a prolonged period of time, resulting in diminishing asset prices, buyers can assess easier the market as when to invest, and now more than ever it is a buyers market.
By Timos Papadimitriou
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
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, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
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- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
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