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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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Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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Showing 1586 to 1590 news of total 6871 |
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- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Planning Commission, India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
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