Job Search
  CV Search
Carnival Cruise ship has technical issue causing ship to tilt to one side It was pure chaos Screams Cries Panic
The 2020 Global Sulphur cap
Demand Keeps Momentum in the VLCC market
Tankers: New refining capacity in India to trigger crude demand
New emission regulations in shipping

Maritime News

Tanker Market Ships Prices Start to Follow Freight Market Rates to Lower Ground

Where there’s crisis, there’s also opportunity. As such, prices for tankers are starting to face further downward pressure, which could prove to be beneficial to cash-rich investors. In its latest weekly report, shipbroker Intermodal said that “the tanker market is undoubtedly passing one of its’ roughest times over the last years. T/C rates have fallen to very low levels and as a result the resistance that vessels were showing to further decrease on asset prices has started to show signs of cracking. The correction on prices has been evident on mostly larger tonnage”.

According to Intermodal’s Konstantinos Kontomichis, SnP Broker, “on the VLCCs, which are 15-yrs old we have witnessed a large correction on asset prices, which was most pronounced during q2 of 2017. To put things into perspective the “GOOD NEWS” (319,430dwt-blt ’02, S. Korean) was sold to New Shipping in May 2017 for $21.0m, while the price for similar aged unit today remains at the same levels. An example of this is the “ROKKOSAN” (300,257dwt-blt ’03, Japan), which was recently sold to Greek buyers for $21.0 million”.

Kontomichis noted that “in the Suezmax sector, similar price elasticities are also explored. The 12-yr old “EUROGLORY” (166,647dwt-blt ’05, Croatia) was sold to Eurotankers in June 2017 for $20.5m, while the 13-yrs old sisters “UNITED KALAVRYTA” (159,156 dwt-blt ’05, S. Korea) and the “UNITED LEADERSHIP” (159,062 dwt-blt ’05, S.Korea), were sold to Greeks in May 2018 for region $18.0m”.

“In the Aframax sector we have noted a similar situation with regards to asset prices. However the number of transactions is greater compared to larger segments. This specific size has traditionally attracted the interest of the buyers looking at the bigger tonnages (Vls, Suezmaxes and Afras). Despite the big interest on the specific segment and the competition amongst buyers, asset values remained steadily negative. The “EUROFORCE” (106,361 dwt-blt ’02, Japan) was bought by Eurotankers on February 2017 for $11.5m, while on April 2017 both “BULL SUMATERA” (106,560 dwt-blt ’02, Japan) and the “KALIMANTAN” (106,548 dwt-blt ’02, Japan) were bought by Indonesian buyers for $10.5 each. On the contrary within April 2018 the “GENER8 DEFIANCE” (105,538 dwt-blt ’02, Japan) sold for $10.2m and two weeks ago the “KRASNODAR” (115,605 dwt-blt ’03, S.Korea) was sold for $9.5million.”, Intermodal’s broker said.

He added that, “the MR prices showed the biggest resistance. For a long period of time, sellers of 13-yrs old Korean/Japanese build MRs were declining offers below $10.0. An example is the “BORA” (46,718 dwt-blt ’04, S. Korea), which bought by Unibros during March 2017 for $11.4. The same prices have been noticed during q4 2017. The ex-“SEAWAYS ANDROMAR” (46,195 dwt-blt ’04, S. Korea) and the ex-“SEAWAYS ARIADMAR” (46,205 dwt-blt ’04, S. Korea), were sold to different Greek buyers for $11.2m each. However the picture is changing in 2018. The pressure and the low expectations in wet market have caused a reduction in asset values to levels below $10.0. Within June we have witnessed the below deals: The “ENDEAVOUR” (46,101 dwt-blt ’04, S. Korea) was sold to Greeks for $9.8m and the “BIENDONG MELODY” (45,937 dwt-blt ’04, Japan) was sold for $9.0m”.

According to Intermodal’s broker, “it is clear that the current asset prices are at a 2-year low. How much further down they can go remains to be seen. Tankers at current prices are definitely the segment that owners and investors should be looking at. While no one is a prophet, you can’t go wrong with the age-old adage of “buy low; sell high”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

Published On July 07th,2018 @ !!!

 Featured Company
Marine World ,India Nessa Ship Management,India MV SHIPPING MANEGEMENT SERVICES PVT LTD,India
HOLY ANGEL MARINE SERVICES PVT LTD,India Oceanwharf Shipping Services Pvt. Ltd.,India Cromwell Ship Mangement Pvt Ltd,India
BAMS MARINE SERVICES PVT LTD,India Accord Marine Management Pvt Ltd,India Sea Wealth Marine Solutions,India
Westline Ship Management Pvt Ltd,India Yak Marine Pvt Ltd. ,India Jude Enterprises & Marine Services Pvt. Ltd.,India
Mehdi Bros Ship Services Pvt. Ltd.,India RAS SHIP MANAGEMENT Pvt.Ltd ,India K.R. Marine Services Pvt. Ltd.,India
AL-HUZAIR MARINE SERVICES PVT.LTD,India West Zone Marine Pvt Ltd,India Admiral Marine Services Pvt. Ltd.,India
Udya Shipping Services Pvt. Ltd. ,India CCrescent,India Nimbus Maritime Services Private Limited,India
Trycon Marine Services Private Limited,India ASIA MARITIME SERVICES PVT.LTD.,India ASP Ship Management (India) Pvt Ltd,India
Aark Shipping And Manning Pvt. Ltd.,India Euro Crewing Service LLC,India Ocean Offshore Marine India,India
AMAZE MARITIME SERVICES PVT. LTD. ,India BD Shipping,India Global Jobs Pool. ,India
CORPORATE MARITIME SER PVT LTD,India Arctic Offshore & Manning Company Pvt. Ltd.,India Vigil Marine Services Private Limited,India
NAAVEX MARINE SERVICES,India World Ships Management Pvt Ltd,India Sea Wealth Maine Solutions,India
Trinitas Ship Management Private Limited,India OLIVE CREW MANAGEMENT,India Nams Ship Management Pvt.Ltd,India
IMS SHIP MANAGEMENT Pvt Ltd,India vencen marine solution,India SS Maritime Services,India
Seastrom Marine Pvt. Ltd.,India Malawat Ship Management Pvt.Ltd.,India Mariners Community Ship Management Private Limited,India
Primanav ship management pvt. ltd,India Oceanic Star Shipping Pvt. Ltd. ,India SEASON SHIP MANAGEMENT & MARITIME SERVICES,India
Tapti Waterways Private Limited,India Naz Maritime Services Pvt.Ltd.,India Swar India Shipping Services Pvt. Ltd,India
Quadrant Maritime Pvt Ltd,India Tangar Ship Management Pvt Ltd,India Glance One Ship Management Pvt. Ltd.,India
Oath Marine Services Pvt Ltd,India MARVIN INTERNATIONAL SHIP MANAGEMENT,India Rassiya Shipping Services Pvt Ltd,India
AUBURN SHIPMANAGEMENT DMCC,India Mr.Sushant,India Summai Shipping Pvt.Ltd.,India
Pelorus shipping,India SVS MARINE SERVICES PRIVATE LIMITED,India Seashell Marine Service Pvt. Ltd,India
East India Shipping Agency,India Campbell Shipping Pvt. Ltd.,India Phelix Shipping Ventures Pvt. Ltd,India
I-Marine Infratech (India) Pvt. Ltd,India SHODEN MARITIME & SHIPPING VENTURES PVT LTD,India Coastal Shipping Links(India) Pvt.Ltd,India
DMC SHIP MANAGMENT PVT LTD ,India Unimar Marine Services Pvt. Ltd.,India Three Bees Shipping Pvt. Ltd,India
Ocean Glaxy Marine Pvt. Ltd.,India VR MARITIME SERVICES PVT LTD,India Seaprime Marine Mgmt Pvt.Ltd,India
sarwamangla Marine Pvt Ltd,India Twilight Shipping,India Indocean Maritime Services Pvt Ltd,India
Valaf DMCC,India Lilly Maritime Pvt. Ltd.,India Neptune Ship Management ,India
Nimbusmaritime Service,India MMS Americas LLC,India Amag Ships Pvt. Ltd.,India
gwl maritime services india pvt ltd ,India Blue Whale Maritime,India PRATISHTHA MARINE SERVICES,India
INTER OCEANIC MARINE SERVICES PVT LTD,India Royal Shipping Services,India Join Hands Marine Services Private Limited,India
DEMENTUS SHIP MANAGEMENT INDIA PVT LTD,India Meridian Marine Management Private Limited,India Penta Crystal Ship Management,India
Oceanic Shipping Services Private Limited,India Synergy Maritime Recruitment Services Pvt Ltd,India MAERSK ,India
Oceans Pride Marine Services Pvt. Ltd.,India RAMAN MARITIME ACADEMY PVT. LTD.,India SeaJobhunt,India
APAC Marine Services Pvt. Ltd,India Angel Maritime (India) Services ,India Albatross  Marine Services  ,India
AET Shipmanagement (India) Pvt. Ltd,India Helm Shipping Management Private Limited,India SHRI MAHAVIR MARINE SERVICES PVT LTD,India
Ind-Aust Maritime Pvt. Ltd,India Bridgeview Maritime Pvt.Ltd,India Calm Seas Shipping and Maritime Services,India
Ad Ship Management pvt. Ltd,India Tristarr Maritime And Shipping Private Limited,India

Copyrights © 2012
Terms and Conditions  -   Sitemap  -   Private Policy  -   FAQ  -   Contact Us
Site By : Pheunix