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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, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
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