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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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Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
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Showing 1601 to 1605 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
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