Pricing a Recovery: What will Drive the Next Stage of the Asset Price Cycle?

Size: px
Start display at page:

Download "Pricing a Recovery: What will Drive the Next Stage of the Asset Price Cycle?"

Transcription

1 Pricing a Recovery: What will Drive the Next Stage of the Asset Price Cycle? Dr Adam Kent - Maritime Strategies International (MSI) 15th Annual Marine Money Week Asia Singapore September 20 th to 21 st 2016

2 Pricing a Recovery: What will Drive the Next Stage of the Asset Price Cycle? 1. Demand 2. Supply 3. Earnings 4. Newbuilding Prices 5. Secondhand Prices 6. Recovery? and will it be a Mountain or Mole Hill Agenda Maritime Strategies International 2

3 Year Old Price versus Historical* Prices have dropped during 2016 across the board *Based on MSI s quarterly published averages 1990 to 2015 Maritime Strategies International 3

4 The Complete Pricing Jigsaw Maritime Strategies International 4

5 Pricing a Recovery Demand Maritime Strategies International

6 Seaborne Cargo Growth Positive outlook for seaborne cargo growth for all sectors (apart from offshore in the short term) Maritime Strategies International

7 How Many Ships? Routes Distance Speed Waiting/Port Time Operating Days Ballast Ratio Carrying Capacity Size Changes Maritime Strategies International 7

8 Crude Oil Product Chemicals LPG LNG Bulker Container PCTC Cruise AHTS 350 # of Vessels Incremental Vessel Requirements (until 2019) Ships Required More ships needed Maritime Strategies International 8

9 Pricing a Recovery Supply Maritime Strategies International

10 Supply has been the Party Pooper Supply Supply Supply Supply Maritime Strategies International 10

11 Crude Oil Product Chemicals LPG LNG Bulker Container PCTC Cruise AHTS Orderbook - Over Exposure 600 # of Vessels Ships Required Ships on order underemployed current fleet Maritime Strategies International 11

12 HIGH SCRAPPING Supply Side Medicine LOW CONTRACTING Maritime Strategies International 12

13 Oil Tanker Bulker Chemical LPG LNG FCC MPP RoRo/RoPax Cruise ship Vehicle Offshore 2016 Self Help Mn GT 10 Contracting Scrapping Maritime Strategies International 13

14 Help from Unusual Places? Maritime Strategies International

15 Imminent Significant (3 rd +) Special Surveys Bulkers Tankers Containers LPG Maritime Strategies International 15

16 Supply Side Saviour Many sectors will witness stagnant growth post 2016 Maritime Strategies International

17 Pricing a Recovery Earnings Maritime Strategies International

18 Crude and Product Tanker LPG Carrier OSVs Rigs PCTC Bulker Container MPP LNG Chemical Tanker RoRo Where on the Earnings Cycle Are We? Maritime Strategies International 18

19 At Todays Prices it makes Sense for Some Based on 60% financing of a 5 Year Old Maritime Strategies International

20 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 Bigger they are the Harder they Fall 000 $/day 1.7 k TEU 2.1 k TEU 4.4 k TEU 6.5/7 k TEU Biggest vessels in liquid charter market hardest hit but it s not a case of obsolesce but lack of demand Maritime Strategies International 20

21 But History Shows Size Does Matter Eventually 000 $/day Aframax VLCC Fall in tanker demand hit largest vessels in charter market hardest but when demand increased the rates realigned Maritime Strategies International 21

22 RoRo Crude and Product Tanker LPG Carrier MPP Rigs OSVs Container PCTC Bulker LNG Chemical Tanker and where are we heading? Maritime Strategies International 22

23 Pricing a Recovery Newbuilding Prices Maritime Strategies International

24 Forward Cover = Yard Pricing Power MSI s Shipbuilding Model Sector Specific Freight Rates Regional Yard Developments & Capacity Sector Specific Contracting Global Yard Capacity Global Orderbook Forward Berth Cover (years) Average Yard Price Index ($ CGT) Newbuilding Price (by vessel type by size) Global Cost Components (steel & machinery price, exchange rates) Regional Cost Components (wage, inflation, productivity) Weighted Average of Yard Costs Costs = Yard Pricing Floor Maritime Strategies International Ltd. 24

25 2016 Contracting Woefully Low Naikai Zosen Beihai Large number of yards that have taken minimal/zero orders in 2016 AVIC Weihai Shanghai JMU Kure COSCO Zhoushan Jinhai HI Xiamen SWS JMU Ariake Jiangsu New Imabari H. Mipo H. Samho Samsung HHI DSME Yards that have taken at least 0.1 Mn CGT of contracts in a single year Maritime Strategies International

26 Shipyard Capacity Is a Worry Mn CGT Other Europe China Korea Japan Maritime Strategies International 26

27 Newbuilding Price Dynamics Cost pressure will stop NB prices falling further in 2018 Maritime Strategies International

28 Pricing a Recovery Secondhand Prices Maritime Strategies International

29 0 Yr Old 5 Yr Old 10 Yr Old 15 Yr Old 20 Yr Old 25 Yr Old How Bad is it? % NRV 100% 90% 80% 70% 60% All time lows VLCC Tanker (1983) Panamax Bulker (1983) Panamax FCC (Aug 2016) Handy Bulker (Aug 2016) Drillship (Aug 2016)* 50% 40% 30% 20% 10% 0% * Re-expressed for 25 year life expectancy Maritime Strategies International 29

30 Currency Pain Relief Maritime Strategies International

31 Not as Bad as it Might First Appear for Some Maritime Strategies International

32 Pricing a Recovery Recovery? Maritime Strategies International

33 MSI - FMV MSI Forecast Marine evaluator (FMV) is the first web-based tool to provide forecast and historical price data covering virtually all of the deepsea shipping fleet. Data includes forecasts of newbuilding, second-hand prices, 1 year timecharter rates and operating costs for specific vessels. MSI FMV draws on MSI s proven, proprietary models and a consistent cross-sectional view across all principal shipping sectors. It puts asset values in the context of the near term market to enable reliable benchmarking with outputs based on annual averages. Coverage: Crude Oil Tanker Chemical Tanker Multi Purpose Product Oil Tanker LPG Carrier Containership Dry Bulk Carrier LNG Carrier PCC/PCTC /fmv Maritime Strategies International 33

34 FMV Output Quarterly Fair Market Value & 1 Year Time Charter Rate (1Q history, current Q, 2Q forecast Annual average: Newbuilding contract price Fair Market Value 1 Year Time Charter Rate Operating Cost 5 years history and 15 years forecast Price Development Chart detailing forecast price development in relation to historical metrics /fmv Maritime Strategies International 34

35 Asset Play Prognosis Buy 5 year old today sell in 5 years time Maritime Strategies International 35

36 When driving up the mountain don t forget to bail out before its too late! Thank You for Listening Maritime Strategies International 36

37 MSI Background For over 30 years, MSI has developed integrated relationships with a diverse client base of financial institutions, ship owners, shipyards, brokers, investors, insurers and equipment and service providers. MSI s expertise covers a broad range of shipping sectors, providing clients with a combination of sector reports, forecasting models, vessel valuations and bespoke consultancy services. MSI is staffed by economists and scientists offering a structured quantitative perspective to shipping analysis combined with a wide range of industry experience. MSI balances analytical power with service flexibility, offering a comprehensive support structure and a sound foundation on which to build investment strategies and monitor/assess exposure to market risks. Maritime Strategies International 37

38 Disclaimer While this document has been prepared, and is presented, in good faith, Maritime Strategies International assumes no responsibility for errors of fact, opinion or market changes, and cannot be held responsible for any losses incurred or action arising as a result of information contained in this document. The copyright and other intellectual property rights in data, information or advice contained in this document are and will at all times remain the property of Maritime Strategies International. Maritime Strategies International 38

39 Maritime Strategies International Ltd 6 Baden Place Crosby Row London SE1 1YW United Kingdom Tel: +44 (0) Fax: +44 (0) info@msiltd.com

Fold, Hold, Double Up - which hand to play next?

Fold, Hold, Double Up - which hand to play next? Fold, Hold, Double Up - which hand to play next? Dr Adam Kent - Maritime Strategies International (MSI) 10th Annual Capital Link Shipping, Marine Services & Offshore Forum Fold, Hold, Double Up - which

More information

Opportunities and Outlook for the Shipping Markets

Opportunities and Outlook for the Shipping Markets Opportunities and Outlook for the Shipping Markets James Frew - Maritime Strategies International (MSI) 8 th Capital Link Greek Shipping Forum 15 th February 2017 Agenda Outlook and opportunities 1. Sector

More information

Breakdown, Breakeven, Breakdance what s in store next?

Breakdown, Breakeven, Breakdance what s in store next? Breakdown, Breakeven, Breakdance what s in store next? Dr Adam Kent - Maritime Strategies International (MSI) 9th Annual Marine Money London Ship Finance Forum 24 th Jan 2018 Agenda Breakdown, Breakeven,

More information

Fundamental Prospecting - time for another gold rush?

Fundamental Prospecting - time for another gold rush? Fundamental Prospecting - time for another gold rush? Dr Adam Kent - Maritime Strategies International (MSI) 30th Annual Marine Money Money Week New York City June 19 th to 21 st 2017 Agenda Fundamental

More information

Fundamental Prospecting - time for another gold rush?

Fundamental Prospecting - time for another gold rush? Fundamental Prospecting - time for another gold rush? Dr Adam Kent - Maritime Strategies International (MSI) 30th Annual Marine Money Money Week New York City June 19 th to 21 st 2017 Agenda Fundamental

More information

Where are we in the market cycles? 16 October 2018

Where are we in the market cycles? 16 October 2018 Where are we in the market cycles? 16 October 218 Marine Money Greek Shipfinance Forum Athens Prepared by Angelica Kemene Head of Market Analysis & Intelligence Market Fundamentals Cycles & Prices & Trends

More information

Shipping Market Outlook

Shipping Market Outlook Shipping Market Outlook Hamburg, 19 November 15 Slide 1 Market Environment Structural Trends of Global Dry Market North America Lower energy prices and higher consumer confidence will bode well for container

More information

Turkish Commercial Shipping Characteristics

Turkish Commercial Shipping Characteristics TURKISH SHIPPING Years old Affinity (Shipping) LLP, th Floor, The Leadenhall Building, 122 Leadenhall Street, London, EC3A 8EE, United Kingdoom T. + () 2 3696 711 F. + () 2 3696 7111 E. affinity@affinityship.com

More information

2 nd Mare Forum Poland 2017 Sopot, Poland, 16 th May 2017 The Polish Excellence, What can the Polish Maritime Industry do for international shipping

2 nd Mare Forum Poland 2017 Sopot, Poland, 16 th May 2017 The Polish Excellence, What can the Polish Maritime Industry do for international shipping 2 nd Mare Forum Poland 2017 Sopot, Poland, 16 th May 2017 The Polish Excellence, What can the Polish Maritime Industry do for international shipping - Meet the Polish Maritime Industry Industry Trends

More information

SHIPPING MARKETS AT A GLANCE - WHAT TO EXPECT METTE BENDORFF ANDERSEN, ANALYST MAY 21, 2014

SHIPPING MARKETS AT A GLANCE - WHAT TO EXPECT METTE BENDORFF ANDERSEN, ANALYST MAY 21, 2014 SHIPPING MARKETS AT A GLANCE - WHAT TO EXPECT METTE BENDORFF ANDERSEN, ANALYST MBA@SHIPFINANCE.DK MAY 21, 2014 DISCLAIMER The persons named as the authors of this report hereby certify that: (i) all of

More information

Business Performance in FY2012-2nd Quarter. Mitsui O.S.K. Lines, Ltd. October 2012

Business Performance in FY2012-2nd Quarter. Mitsui O.S.K. Lines, Ltd. October 2012 Business Performance in -2nd Quarter Mitsui O.S.K. Lines, Ltd. October 2012 HP Contents 2nd Quarter s [Consolidated] 2 Outlines of 2nd Quarter s [Consolidated] 4 Forecast [Consolidated] 6 Key Points of

More information

AN ANALYSIS OF TANKER AND BULKER TON MILE DEMAND

AN ANALYSIS OF TANKER AND BULKER TON MILE DEMAND AN ANALYSIS OF TANKER AND BULKER TON MILE DEMAND Adrian Economakis COO adrianeconomakis@vesselsvalue.com TOPICS 1. A short introduction to VesselsValue 2. A quick look at values 3. What is ton mile demand?

More information

Business Performance in FY2009 and Outlook for FY2010. Mitsui O.S.K. Lines, Ltd. April 2010

Business Performance in FY2009 and Outlook for FY2010. Mitsui O.S.K. Lines, Ltd. April 2010 Business Performance in FY2009 and Outlook for FY2010 Mitsui O.S.K. Lines, Ltd. April 2010 HP Contents FY2009 Results [Consolidated] 2 Key Points of FY2009 Full-year Results [Consolidated] 4 Results Comparison

More information

Shalini Shekhawat, Drewry Maritime Services Pvt Ltd. Future Trends in Iron Ore Trade and its Impact on the Dry Bulk Shipping Market

Shalini Shekhawat, Drewry Maritime Services Pvt Ltd. Future Trends in Iron Ore Trade and its Impact on the Dry Bulk Shipping Market Shalini Shekhawat, Drewry Maritime Services Pvt Ltd Future Trends in Iron Ore Trade and its Impact on the Dry Bulk Shipping Market Structure of the présentation About Drewry Current trends in iron ore

More information

IHS REVIEWS CONTRASTING 2016 MARKETS: DRY BULK & DIRTY TANKER

IHS REVIEWS CONTRASTING 2016 MARKETS: DRY BULK & DIRTY TANKER Information IHS MARITIME Analytics & TRADE Expertise FEBRUARY 216 IHS REVIEWS CONTRASTING 216 MARKETS: DRY BULK & DIRTY TANKER Dalibor Gogic, Principal Analyst +44 23 253 2388 Dalibor.Gogic@ihs.com Global

More information

Shipbuilding market outlook

Shipbuilding market outlook Shipbuilding market outlook New ship ordering outlook 2014-2018 WHEN 22 April, 2014 13:00 17:30 Evening reception drinks (jointly with the Annual Marine Propulsion & Auxiliary Machinery Conference) Dinner

More information

Shipping Trends Clarkson Research, October Martin Stopford

Shipping Trends Clarkson Research, October Martin Stopford Shipping Trends Clarkson Research, October 2012 50 45 40 Shipping Cycle 1965-2012 2008 (Clarksea Index is a weighted average of earnings by $50,000/day tankers, bulkers, containerships & gas.) 2004 $39,000/day

More information

Drewry Dry Bulk shipping market. Drewry 2013

Drewry Dry Bulk shipping market. Drewry 2013 1 1 Dry bulk shipping: are we at the end of the tunnel? Mare Forum, Istanbul Lisarain Yu Jiang Senior Consultant Drewry Maritime Advisors 21 March 213, Istanbul Barometer of dry bulk shipping market All

More information

LNG Market Prospects. Mr Jae Sung Choi. 1 st November, 2017

LNG Market Prospects. Mr Jae Sung Choi. 1 st November, 2017 LNG Market Prospects Mr Jae Sung Choi 1 st November, 2017 CONTENTS I. Introduction of Clarksons Platou Korea II. III. IV. LNG Trade Overview (Exports & Imports) LNG Value Chain LNG Carrier Market Overview

More information

WWH Capital Markets Day 17 September 2015

WWH Capital Markets Day 17 September 2015 WWH Capital Markets Day 17 September 2015 Dag Schjerven, President & CEO WMS portfolio strategy Neal De Roche, Regional VP Asia Pacific WSS Wilhelmsen Ships Service and the Asia Pacific Region The world

More information

Current Situation in the Shipbuilding Industry and Long Term World Shipbuilding Forecast (SAJ2015)

Current Situation in the Shipbuilding Industry and Long Term World Shipbuilding Forecast (SAJ2015) Current Situation in the Shipbuilding Industry and Long Term World Shipbuilding Forecast (SAJ2015) Hiroshi Iwamoto OECD Council Working Party on Shipbuilding (WP6) Workshop on Supply and Demand in the

More information

May 2008 COMPANY OVERVIEW & UPDATE

May 2008 COMPANY OVERVIEW & UPDATE May 2008 COMPANY OVERVIEW & UPDATE Important Notice Forward-looking statements and figures in this presentation are based on Hyundai Merchant Marine s current expectations and no assurances can be made

More information

The global supply outlook

The global supply outlook The global supply outlook Global Liner Shipping Conference 16 th May 217 - Hamburg Neil Dekker, Director - Container Research Drewry dekker@drewry.co.uk Agenda Global supply 217-2 Drewry forecast Scrapping

More information

SHIP POWER: RESILIENCE IN DEMANDING MARKETS

SHIP POWER: RESILIENCE IN DEMANDING MARKETS SHIP POWER: RESILIENCE IN DEMANDING MARKETS Jaakko Eskola, President, Ship Power & Senior Executive Vice President 1 The most complete marine offering on earth 2 Strategic focus Ship Power s strategic

More information

Samsung Heavy Industries

Samsung Heavy Industries Samsung Heavy Industries March 2011 Contents Company Overview Global Markets Future Strategy Stena Drillmax (219m 42m 19) HEAVY INDUSTRIES Company Overview Business Highlights Order & Backlog Risk Management

More information

Argus European LPG Markets LPG Shipping - Current Challenges and Future Opportunities

Argus European LPG Markets LPG Shipping - Current Challenges and Future Opportunities Argus European LPG Markets 2013. LPG Shipping - Current Challenges and Future Opportunities A presentation prepared by ViaMar AS, Oslo All information provided by ViaMar AS, whether oral or written, is

More information

Perfect Storm to Calmer Seas, The Timeline for Global Shipping Recovery

Perfect Storm to Calmer Seas, The Timeline for Global Shipping Recovery Perfect Storm to Calmer Seas, The Timeline for Global Shipping Recovery A Joint Webcast from IHS Global Insight and Lloyd s Register-Fairplay Research Introducing the IHS Global Insight and Lloyd s Register-Fairplay

More information

The Great Eastern Shipping Co. Ltd. Business & Financial Review April 2010

The Great Eastern Shipping Co. Ltd. Business & Financial Review April 2010 The Great Eastern Shipping Co. Ltd. Business & Financial Review April 2010 1 Forward Looking Statements Except for historical information, the statements made in this presentation constitute forward looking

More information

Tanker Monthly Fleet Update

Tanker Monthly Fleet Update Tanker Monthly Fleet Update (a review of deliveries, demo, orders, and rates) September 218 research www.bancosta.com ; research@bancosta.com Sep 218 Tanker Monthly Fleet Update 1 Fleet Developments (deliveries,

More information

The Shipping Industry

The Shipping Industry The Shipping Industry G.Skrimizeas Athens University of Economics and Business Page 1 The Shipping Industry Represents 90% of world trade Reflects world economy In 2016, about 10.000 millιon tonnes of

More information

TANKER MARKET INSIGHT

TANKER MARKET INSIGHT TANKER MARKET INSIGHT October 18 Research Department, Teekay Tankers Sep-17 Oct-17 Nov-17 Jan-18 Feb-18 Apr-18 May-18 Jul-18 Aug-18 Sep-17 Oct-17 Nov-17 Jan-18 Feb-18 Apr-18 May-18 Jul-18 Aug-18 $ 000s

More information

Dry Bulk Freight Market: Prospects For Recovery

Dry Bulk Freight Market: Prospects For Recovery Dry Bulk Freight Market: Prospects For Recovery Platts 9 th Steel Markets Europe Conference London 24 Whilst care and attention has been taken to ensure that the information contained is accurate, it is

More information

Shipping Markets: In the Middle of a Revolution?

Shipping Markets: In the Middle of a Revolution? Martin Stopford President, Clarkson Research Shipping Markets: In the Middle of a Revolution? Hamburg Schifffahrts-Dialog 17 th April 2014 Macr-managements meets micro-management 1. Market Overview 2.

More information

LNG Shipping: How Long Will The Good Times Last?

LNG Shipping: How Long Will The Good Times Last? LNG Shipping: How Long Will The Good Times Last? Poten & Partners November 1 HOUSTON NEW YORK LONDON ATHENS SINGAPORE GUANGZHOU PERTH A GLOBAL BROKER AND COMMERCIAL ADVISOR FOR THE ENERGY AND OCEAN TRANSPORTATION

More information

Pooling: Bringing vital consolidation to shipping

Pooling: Bringing vital consolidation to shipping Pooling: Bringing vital consolidation to shipping Marine Money, Busan Korea 28 October 2015 www.navig8group.com Why 8 and what does that mean? 2 Why 8 and what does 8 mean? FR8 (Freight) 3 Why 8 and what

More information

Shipbuilding & Ocean Development Business Operation

Shipbuilding & Ocean Development Business Operation Shipbuilding & Ocean Development Business Operation June 4, 2009 Shiro Iijima Director, Executive Vice President, General Manager, Shipbuilding & Ocean development Headquarters 1 Contents 1. FY2008 Overview

More information

TANKER MARKET INSIGHT

TANKER MARKET INSIGHT TANKER MARKET INSIGHT July 18 Research Department, Teekay Tankers Jun-17 Jul-17 Aug-17 Oct-17 Nov-17 Jan-18 Feb-18 Apr-18 May-18 Jun-17 Jul-17 Aug-17 Oct-17 Nov-17 Jan-18 Feb-18 Apr-18 May-18 $ 000s /

More information

Maritime and Trade Capabilities for Financial Institutions. Maritime & Trade

Maritime and Trade Capabilities for Financial Institutions. Maritime & Trade Maritime and Trade Capabilities for Financial Institutions Maritime & Trade 2017 2017 2016 IHS Markit. All Rights Reserved. Introducing IHS Markit We are a global information and analytics company ENERGY

More information

Glossary of Shipping Terms

Glossary of Shipping Terms of Shipping Terms of Shipping Terms Limited St Magnus House 3 Lower Thames Street London EC3R 6HE United Kingdom Tel: +44 (0) 20 7334 0000 Fax: + 44 (0) 20 7334 0539 Email: crs@clarksons.co.uk Corporate

More information

Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development

Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development For Official Use DSTI/SU/SC(26)32 DSTI/SU/SC(26)32 For Official Use Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development 15-May-26 English

More information

Dry Bulk Freight Market: Review of 2012 & Prospects For Recovery Metal Bulletin Bauxite & Alumina Conference Singapore October 2012

Dry Bulk Freight Market: Review of 2012 & Prospects For Recovery Metal Bulletin Bauxite & Alumina Conference Singapore October 2012 Dry Bulk Freight Market: Review of 212 & Prospects For Recovery Metal Bulletin Bauxite & Alumina Conference Singapore 3-31 Whilst care and attention has been taken to ensure that the information contained

More information

CASS TECHNAVA DAILY NEWS. ++ Shipbuilding News Shipping News ++ STX Dalian wins 207K BC

CASS TECHNAVA DAILY NEWS. ++ Shipbuilding News Shipping News ++ STX Dalian wins 207K BC CASS TECHNAVA DAILY NEWS ++ Shipbuilding News ++ STX Dalian wins 207K BC (http://www.asiasis.com/view_new.php?bbs_id=news&doc_num=17343) Polaris Shipping of Korea has ordered a 207,000-dwt Newcastlemax

More information

Leveraging commercial scale and logistics expertise

Leveraging commercial scale and logistics expertise WWW.NAVIG8GROUP.COM Leveraging commercial scale and logistics expertise JANUARY 27 TH, 2016. LONDON, UK Revenue Maximization Cost Optimization NAVIG8 S BUSINESS OVERVIEW COMMERCIAL MANAGEMENT BUNKER PROCUREMENT

More information

SHIPBUILDING MARKET DEVELOPMENTS Q2 2018

SHIPBUILDING MARKET DEVELOPMENTS Q2 2018 SHIPBUILDING MARKET DEVELOPMENTS Q2 218 2 SHIPBUILDING MARKET DEVELOPMENTS Q2 218 This paper was authored by Christian Steidl, Laurent Daniel and Cenk Yildiran from the OECD Directorate for Science, Technology

More information

WÄRTSILÄ SHIP POWER JAAKKO ESKOLA SENIOR EVP DEPUTY TO THE CEO PRESIDENT, SHIP POWER

WÄRTSILÄ SHIP POWER JAAKKO ESKOLA SENIOR EVP DEPUTY TO THE CEO PRESIDENT, SHIP POWER WÄRTSILÄ SHIP POWER JAAKKO ESKOLA SENIOR EVP DEPUTY TO THE CEO PRESIDENT, SHIP POWER 1 / Doc.ID: Revision: Status: The most complete Marine Offering on earth 2 / Doc.ID: Revision: Status: Market trends

More information

ASAN INTERNATIONAL CORPORATION

ASAN INTERNATIONAL CORPORATION Dear Madam, Sir, INTRODUCTION TO ASAN INTERNATIONAL CORPORATION With great pleasure we would like to take this opportunity to introduce to you our company ASAN INTERNATIONAL GROUP as being your provider

More information

SHIPPING QUARTERLY 1/2015

SHIPPING QUARTERLY 1/2015 Market Report ECONOMICS AND RESEARCH SHIPPING QUARTERLY 1/215 February 17, 215 Overview The shipping markets have performed in a very disparate manner recently. While freight rates in the container and

More information

Impact of the Economic Downturn on the Shipbuilding Industry

Impact of the Economic Downturn on the Shipbuilding Industry Impact of the Economic Downturn on the Shipbuilding Industry The 108 th OECD WP6 Meeting 9-10 July 2009 The Korea Shipbuilders Association Contents 01 Impact on Shipbuilding 02 Responses on Impact 03 Possible

More information

Pooling: Bringing Vital Consolidation to Shipping

Pooling: Bringing Vital Consolidation to Shipping Pooling: Bringing Vital Consolidation to Shipping Marine Money, Shanghai, China 19 November 2015 www.navig8group.com GROUP OVERVIEW AN INTEGRATED GROUP OFFERING MARKET-LEADING COMMERCIAL MANAGEMENT AND

More information

3 rd Quarter 2013 Results November 22th, 2013

3 rd Quarter 2013 Results November 22th, 2013 3 rd Quarter 2013 Results November 22th, 2013 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such

More information

Finding a Green Ship in a Blue Ocean

Finding a Green Ship in a Blue Ocean Finding a Green Ship in a Blue Ocean GreenTech 2013 About RightShip Agenda Existing Vessel Design Index and Greenhouse Gas Emissions Rating A practical application How charterers use the tool How ship

More information

Liner alliances: rationale ESPO Tim Power Director, Head of Maritime Advisors. 15 th May 2014

Liner alliances: rationale ESPO Tim Power Director, Head of Maritime Advisors. 15 th May 2014 Liner alliances: rationale ESPO 2014 Tim Power Director, Head of Maritime Advisors 15 th May 2014 2 Contents 1. Liner fundamentals Liner economics and the cycle Historical market growth Historical supply

More information

Trends in Shipbuilding: The Class Perspective

Trends in Shipbuilding: The Class Perspective Trends in Shipbuilding: The Class Perspective Y C Lam (Speaker) Dr V Wasmansdorff; V Wronka 16 th May 2007 Globalisation Globalisation is nothing new in history Roman Empire, Commonwealth Admiral Zheng

More information

TTS GROUP ASA. Q1 Results Oslo, 15 May 2014 Björn Andersson, CEO Arild Apelthun, CFO

TTS GROUP ASA. Q1 Results Oslo, 15 May 2014 Björn Andersson, CEO Arild Apelthun, CFO TTS GROUP ASA Q1 Results 2014 Oslo, 15 May 2014 Björn Andersson, CEO Arild Apelthun, CFO Agenda 1 st quarter headlines Order intake and order backlog Business segments Market development 1st quarter consolidated

More information

Samsung Heavy Industries. MOJAH 266K LNG Carrier (332m 54m 27m)

Samsung Heavy Industries. MOJAH 266K LNG Carrier (332m 54m 27m) Samsung Heavy Industries MOJAH 266K LNG Carrier (332m 54m 27m) Jun 212 Contents Company Overview Global Markets Future Strategy Stena Drillmax (219m 42m 19) Company Overview Business Highlights Order &

More information

Volatility in Container Shipping

Volatility in Container Shipping Volatility in Container Shipping TPM Asia 2013, Shenzhen Simon Heaney Research Manager Drewry Supply Chain Advisors 16-17 October 2013 2 Agenda 1. Volatility in container shipping s DNA 2. Recent container

More information

2008 INTERIM RESULTS PRESENTATION

2008 INTERIM RESULTS PRESENTATION 2008 INTERIM RESULTS PRESENTATION AGENDA Financial highlights 2008 Interim results Shipping Trading Freight Services Financial Services Conclusion 2 FINANCIAL HIGHLIGHTS 3 FINANCIAL HIGHLIGHTS Financial

More information

TRANSCRIPT: Kim Ullman, CEO of Concordia Maritime, Interviewed by Barry Parker

TRANSCRIPT: Kim Ullman, CEO of Concordia Maritime, Interviewed by Barry Parker 230 Park Avenue Suite 1536 New York, NY 10169 Tel.: (212) 661-7566 Fax: (212) 661-7526 TRANSCRIPT: Kim Ullman, CEO of Concordia Maritime, Interviewed by Barry Parker Kim Ullman, Chief Executive Officer

More information

CONTAINERSHIPS. The Preferred Choice for Class. Gary Blakeley/Shutterstock

CONTAINERSHIPS. The Preferred Choice for Class. Gary Blakeley/Shutterstock CONTAINERSHIPS The Preferred Choice for Class Gary Blakeley/Shutterstock ABS IS THE PREFERRED CHOICE FOR CONTAINERSHIPS Nickolay Khoroshkov/Shutterstock From the voyage of the very first containership,

More information

U-Ming Marine Transportation Corp. President C.K. Ong. A member of Far Eastern Group TSEC code: Mar.

U-Ming Marine Transportation Corp. President C.K. Ong. A member of Far Eastern Group TSEC code: Mar. U-Ming Marine Transportation Corp. President C.K. Ong A member of Far Eastern Group TSEC code: 266 213 Mar. 1 This presentation may contain statements that express management's expectations about future

More information

Dry Bulk Monthly Fleet Update

Dry Bulk Monthly Fleet Update banchero costa Dry Bulk Monthly Fleet Update (a review of deliveries, demo, orders, and rates) September 2018 banchero costa research www.bancosta.com ; research@bancosta.com Sep 2018 Dry Bulk Monthly

More information

Iron Ore Shipping Market in 2011

Iron Ore Shipping Market in 2011 Iron Ore Shipping Market in 2011 China Iron Ore Conference Beijing 24 th March Whilst care and attention has been taken to ensure that the information contained is accurate, it is supplied without guarantee.

More information

The Turn around Process in TTS Group ASA

The Turn around Process in TTS Group ASA TTS GROUP ASA The Turn around Process in TTS Group ASA Hordaland på Børs 13 August 2015 Björn Andersson, CEO Photo: Jan Rolf Jacobsen/Norlines Agenda TTS, what business and products Struggling financial

More information

HANDYSIZE & HANDYMAX MARKETS 2008 CONFERENCE

HANDYSIZE & HANDYMAX MARKETS 2008 CONFERENCE May 2008 HANDYSIZE & HANDYMAX MARKETS 2008 CONFERENCE Key Strengths and Concerns of the Handyclass Strong freight rates should continue in 2008, but a multi-year downturn is expected to begin in 2009 TC

More information

Ocean freight in 2018 challenges for BCOs

Ocean freight in 2018 challenges for BCOs Ocean freight in 2018 challenges for BCOs JOC Container Trade Europe conference Philip Damas, Director Head of Drewry Supply Chain Advisors September 18, 2017 Agenda Drewry Challenge 1: fewer ocean carriers

More information

SHIPPING MARKET REVIEW MAY 2017

SHIPPING MARKET REVIEW MAY 2017 SHIPPING MARKET REVIEW MAY 217 DISCLAIMER The persons named as the authors of this report hereby certify that: (i) all of the views expressed in the research report accurately reflect the personal views

More information

Dry Bulk Freight Market

Dry Bulk Freight Market Jan-1 Jun-1 Nov-1 Apr-2 Sep-2 Feb-3 Jul-3 Dec-3 May-4 Oct-4 Mar-5 Aug-5 Jan-6 Jun-6 Nov-6 Apr-7 Sep-7 Feb-8 Jul-8 Dec-8 May-9 Oct-9 Mar-1 Aug-1 Jan-11 Jun-11 US$/t Dry Bulk Freight Market Has the Market

More information

Gastech LPG & Petrochemical Shipping: Current Status & Outlook. A better market, but for how long?

Gastech LPG & Petrochemical Shipping: Current Status & Outlook. A better market, but for how long? Gastech 25 LPG & Petrochemical Shipping: Current Status & Outlook A better market, but for how long? Nicola Williams Gas & Chemicals Division Clarksons Gastech 25 Overview of the LPG Carrier Fleet It is

More information

Presentation to GTB Shareholders February en.hnagroup.com

Presentation to GTB Shareholders February en.hnagroup.com Presentation to GTB Shareholders February 2010 Executive Summary Who we are HNA Group is a diversified services company with over US$ 20 billion in assets and $6 bn in annual revenues Existing platform

More information

November 17. Brochure.

November 17. Brochure. November 17 Brochure www.nextmaritime.com Index About us Ship Agency Logistics Customs Marine Associates About us............................. THE PREFERRED WORLDWIDE SHIPPING AGENT. Next Maritime is a

More information

Quadra Commodities. Anthony Diamante Director and Chartering Manager

Quadra Commodities. Anthony Diamante Director and Chartering Manager Quadra Commodities Anthony Diamante Director and Chartering Manager Trends in the Dry Bulk Ocean freight market and freight market outlook IAOM Capetown December 2014 1 2014 in review weaker than expected

More information

The Great Eastern Shipping Co. Ltd.

The Great Eastern Shipping Co. Ltd. May 2016 Business & Financial Review The Great Eastern Shipping Co. Ltd. 1 The Company assumes no responsibility with regard to publicly amending, modifying or revising the statements based on any subsequent

More information

MARITIME SAFETY SURVEY

MARITIME SAFETY SURVEY MARITIME MARITIME SAFETY SURVEY 1 SAFER, SMARTER, GREENER The safety level in shipping has changed little over the last 20 years 0,014 Serious accidents 0,012 Accident frequency per ship year 0,01 0,008

More information

The major Shipping Markets

The major Shipping Markets The major Shipping Markets what will be the main themes impacting global shipping markets this year and beyond - and how will they impact buyersupplier and shipping company operations? 29 March 2017 Niklas

More information

YES MARITIME SDN BHD

YES MARITIME SDN BHD YES MARITIME SDN BHD You, as our customer, will receive our focused attention with utmost integrity at all times. Efficient, reliable and cost effective services to our customers. Safety of personnel,

More information

Energy Efficiency. Technical Solutions for Operational Challenges

Energy Efficiency. Technical Solutions for Operational Challenges Energy Efficiency Technical Solutions for Operational Challenges 1 Data Driven Analyses Today, the future of shipping is responsive to high fuel oil prices, along with stricter air emission and environmental

More information

THE LEADING MARITIME NATIONS

THE LEADING MARITIME NATIONS THE LEADING MARITIME NATIONS 2018 INTRODUCTION: Menon Economics and DNV GL are proud to present the Leading Maritime Nations of the World 2018. The ranking digs deep into a broad indicators on maritime

More information

The Great Eastern Shipping Co. Ltd. Business & Financial Review July 2016

The Great Eastern Shipping Co. Ltd. Business & Financial Review July 2016 The Great Eastern Shipping Co. Ltd. Business & Financial Review July 2016 1 Forward Looking Statements Except for historical information, the statements made in this presentation constitute forward looking

More information

PRESS RELEASE. GE Shipping Q1FY13 consolidated Net Profit at Rs crs

PRESS RELEASE. GE Shipping Q1FY13 consolidated Net Profit at Rs crs PRESS RELEASE GE Shipping Q1FY13 consolidated Net Profit at Rs.180.99 crs The Board of Directors of The Great Eastern Shipping Company Ltd. (G E Shipping) today approved the Unaudited Financial Results

More information

ASSOCIATION OF SINGAPORE MARINE INDUSTRIES (ASMI)

ASSOCIATION OF SINGAPORE MARINE INDUSTRIES (ASMI) World Class & More ASSOCIATION OF SINGAPORE MARINE INDUSTRIES (ASMI) Non-profit trade association formed in 1968 Representative body for marine and offshore engineering industry in Singapore Mission: To

More information

THE NEW PANAMA CANAL AND ITS IMPACT ON GLOBAL TRANSSHIPMENT PATTERNS THE ROLE OF REEFERS

THE NEW PANAMA CANAL AND ITS IMPACT ON GLOBAL TRANSSHIPMENT PATTERNS THE ROLE OF REEFERS THE NEW PANAMA CANAL AND ITS IMPACT ON GLOBAL TRANSSHIPMENT PATTERNS THE ROLE OF REEFERS Capt. Paul J. Gallie Cool Logistics Asia 2016 Hong Kong 7 th September LET S THINK ABOUT THE FOLLOWING Current

More information

MARKET REPORT WEEK 28 BASED ON SALES AND PURCHASES OF VESSELS WEEK ENDED FRIDAY 16 th JULY 2010.

MARKET REPORT WEEK 28 BASED ON SALES AND PURCHASES OF VESSELS WEEK ENDED FRIDAY 16 th JULY 2010. MARKET REPORT WEEK 28 BASED ON SALES AND PURCHASES OF VESSELS WEEK ENDED FRIDAY 16 th JULY 2010. Having fallen for a straight 6-7 weeks just maybe the dry indices /freight rates are now starting to find

More information

ANALYST BRIEFING 2Q FY2017 Financial Results. 9 th Aug 2017

ANALYST BRIEFING 2Q FY2017 Financial Results. 9 th Aug 2017 ANALYST BRIEFING 2Q FY2017 Financial Results 9 th Aug 2017 FINANCIAL OVERVIEW By : Mohammad Romzi, Senior General Manager, Finance Lower revenue: Offshore - Q1 FY2017 results include one-off gain for GKL

More information

Dry Bulk Freight Outlook

Dry Bulk Freight Outlook European Fuel Price Conference Challenging the Energy Consensus Dry Bulk Freight Outlook Galbraith s Ltd Bridgegate House 124-126 Borough High Street London SE1 1BL United Kingdom Dr Philip Rogers Head

More information

2017 Shipbuilding Outlook

2017 Shipbuilding Outlook 217 Outlook l November 15, 216 217 Shipbuilding Outlook Bumpy road to recovery Analyst Ki-jong Sung +822-768-3263 kijong.sung@miraeasset.com Junior Analyst Ho-seung Lee +822-768-4176 hoseung.lee@miraeasset.com

More information

Freight rates Loaded: Middle East, Unloaded: Far East (WS)* 150. April 2010

Freight rates Loaded: Middle East, Unloaded: Far East (WS)* 150. April 2010 Segment Overviews KIHO Oil Tanker Group Fiscal year Market Overview Freight rates Loaded: Middle East, Unloaded: Far East Although an upturn was seen at the end of the fiscal year due to alternative oil

More information

Finnish Industrial Days in Singapore - Cargotec - October 31st

Finnish Industrial Days in Singapore - Cargotec - October 31st Finnish Industrial Days in Singapore - Cargotec - October 31st 08.30 Welcome & opening Michel van Roozendaal, President, MacGregor 08.35 Peter Cederholm, President, Bromma 09.30 Transportation from Cargotec

More information

Rahul Sengupta Avinash Nagaraja Kyle Samani Neha Gaddam

Rahul Sengupta Avinash Nagaraja Kyle Samani Neha Gaddam Rahul Sengupta Avinash Nagaraja Kyle Samani Neha Gaddam Agenda Thesis Industry Overview Our Company Macroeconomic Catalysts Valuation Summary Q&A Thesis Diverse portfolio of modern tankers Stable future

More information

ACHIEVING BEST QUALITY IN SHIPBUILDING INDUSTRY. SeaQuest rev

ACHIEVING BEST QUALITY IN SHIPBUILDING INDUSTRY. SeaQuest rev ACHIEVING BEST QUALITY IN SHIPBUILDING INDUSTRY 1 THE COMPANY QUALITY SERVICES TO SHIP OWNERS AND OPERATORS FOR THEIR SHIP BUILDING PROJECTS Widespread expertise in New Building Project Management Special

More information

LNG AS FUEL: THE TIPPING POINT?

LNG AS FUEL: THE TIPPING POINT? LNG AS FUEL: THE TIPPING POINT? LONDON, 19 th April 2018 LNG-as-a-fuel : an energy transition for the shipping industry Compelling environmental performance World fleet of merchant ships Around 27,000

More information

China General Cargo Logistics Industry Report, Jun 2012

China General Cargo Logistics Industry Report, Jun 2012 China General Cargo Logistics Industry Report, 2011-2012 Jun 2012 STUDY GOAL AND OBJECTIVES This report provides the industry executives with strategically significant competitor information, analysis,

More information

INTERTANKO. IMPA Congress Johan Gahnstrom. Leading the way; Making a difference

INTERTANKO. IMPA Congress Johan Gahnstrom. Leading the way; Making a difference INTERTANKO IMPA Congress 2018 Johan Gahnstrom Content Who and what is INTERTANKO Tanker Market update OCIMF / INTERTANKO safety initiative INTERTANKO, Nautical Sub-Committee, Current work INTERTANKO 2018

More information

PRESS RELEASE. GE Shipping Q1FY12 consolidated Net Profit at Rs cr GE Shipping Q1FY12 standalone Net Profit at Rs cr

PRESS RELEASE. GE Shipping Q1FY12 consolidated Net Profit at Rs cr GE Shipping Q1FY12 standalone Net Profit at Rs cr PRESS RELEASE GE Shipping Q1FY12 consolidated Net Profit at Rs.162.59 cr GE Shipping Q1FY12 standalone Net Profit at Rs.101.9 cr The Board of Directors of The Great Eastern Shipping Company Ltd. (G E Shipping)

More information

AMER BADAWI Vice President Columbia Grain, Inc.

AMER BADAWI Vice President Columbia Grain, Inc. AMER BADAWI Vice President Columbia Grain, Inc. World Freight Markets By: Amer Badawi Vice President Topics Drybulk Fleet Profile General Trends World Grain World Output World Output - 47% increase y-o-y

More information

Global Coalition for Efficient Logistics. The Shipping Industry and the Global Economy! June 2009! Swiss based non profit public private partnership

Global Coalition for Efficient Logistics. The Shipping Industry and the Global Economy! June 2009! Swiss based non profit public private partnership The Shipping Industry and the Global Economy! June 2009! Swiss based non profit public private partnership INDEX The objectives of this document are to provide an overview of the Shipping Industry and

More information

Managing Risk in a Connected World Managing Port Accumulation In a Connected World

Managing Risk in a Connected World Managing Port Accumulation In a Connected World Managing Risk in a Connected World Managing Port Accumulation In a Connected World Suki Basi Russell Group Limited 2017 Agenda What is Connected Risk Port Accumulation Defining the Requirement Scope of

More information

Introduction of Gas Turbine- Powered, LPG Fueled Ship. Byeongyeol Baek Advanced Lead Engineer GE s Marine Solutions March 6 to 7, 2018

Introduction of Gas Turbine- Powered, LPG Fueled Ship. Byeongyeol Baek Advanced Lead Engineer GE s Marine Solutions March 6 to 7, 2018 Introduction of Gas Turbine- Powered, LPG Fueled Ship Byeongyeol Baek Advanced Lead Engineer GE s Marine Solutions March 6 to 7, 2018 Presentation Title February 9, 2 GE s Marine Solutions +1,400 Vessel

More information

Global Ballast Water Management Market: Industry Analysis & Outlook ( )

Global Ballast Water Management Market: Industry Analysis & Outlook ( ) Industry Research by Koncept Analytics Global Ballast Water Management Market: Industry Analysis & Outlook ----------------------------------------- September 2017 Global Ballast Water Management Market:

More information

PRESS RELEASE Q3 FY'12 9M FY'12 Q3 FY'11 Q3 FY'12 Q3 FY'11. (Amount in Rs. crs)

PRESS RELEASE Q3 FY'12 9M FY'12 Q3 FY'11 Q3 FY'12 Q3 FY'11. (Amount in Rs. crs) PRESS RELEASE GE Shipping Q3FY12 consolidated Net Profit at Rs. 87.46 cr GE Shipping 9M FY12 consolidated Net Profit at Rs. 277.36 cr Declares Interim Dividend of Rs. 3.00 per share The Board of Directors

More information

DEMOLITION MONTHLY MARKET REPORT

DEMOLITION MONTHLY MARKET REPORT ISSUE NO. 6/ JUNE LITION MONTHLY MARKET REPORT LITION ACTIVITY PER VESSEL TYPE LITION ACTIVITY PER UPDATE LITION ACTIVITY PRICES PER MAIN LITION COUNTRIES GOLDEN DESTINY LITION MONTHLY REPORT/ LITION ACTIVITY

More information