Single-hull tankers hit the scrapyards
Friday, 28 May 2010
It was widely expected, it already began last year and 2010 will mark the near total “extinction” of the single-hull tanker fleet, as a result of implementation of IMO’s 13G measures, which are calling for the phasing out of single-hull tankers during this year. The accumulation of major tanker disasters, starting with the Exxon Valdez accident back in Alaska in 1989 and followed ten years later with Erika and finally in 2002 with Prestige, the IMO took action, accelerating the phase out plans through further amendments. Measure 13G(7) allows these same vessels an opportunity to trade to 2015, but only after successful completion of a Condition Assessment Scheme (CAS) which is applicable to all single-hulls of 15 years or older. Even with successful CAS certificates in place, the IMO 13G(8) measure grants flag states their own rights for controlling access. In many cases, major tanker ports around the globe have already indicated that 2010 will be the final year in which they will allow single-hulls to call their ports, regardless of a vessel’s CAS status.
As a result tanker owners already began last year the phasing out of their older single hull ships. According to a report from Mcquilling Services, since January 2009, the VLCC fleet has dropped from 96 single-hulls (a 19% share of the fleet) to only 36 or a 7% share at present. VLCC’s fall particularly prey worthy to G(8), given the inflexible nature of their trade and the long list of supertanker ports already gearing up to close the doors on these vessels.
Of course, all is not bad for owners, as the scrap market has picked up rapidly since late 2008. “Demolition prices for tanker tonnage have risen rather steadily since 2009 after dropping to US$ 250/LDT. The market is seeing a new high point for 2010, with China paying $435/LDT this month for the VLCC ‘Shinyo Mariner.’ Average scrap prices of $413/ LDT this year are up by 49% compared to $278/LDT seen during the same period in 2009. For a typical VLCC, today’s scrap price leaves a parting owner with over $14 million. This is hardly a figure to ignore in the face of surmounting difficulties for continued trade of a single-hull.
Bangladesh remains the most popular buyer of wet tonnage, taking 56% of tankers scrapped this year at $408/LDT on average. India and Pakistan make up the gross majority of other breakers collecting tonnage, with Chinese yards expanding their participation in the demo markets as of late. It is interesting to note the high price being offered by Chinese breakers this season, who typically quote amongst the lowest of scrap rates. This is not the first time that China has offered premium prices on scrap, and it will probably not be the last. Typically, these price-cycles fall back down once China’s prompt demand for scrap steel has been appeased” said Mcquilling in its report.
The scarcity of single-hull VLCCs, 63% less than last year, charter rates could very well have begun to be negotiated in a different way. Some charterers are willing to assume the risk of fixing a single-hulled ship, even at some discount to more modern, double-hulled vessels. “But with singles losing both their volume and trade-ability, owners of newer tonnage may be more at ease knowing that charterers are losing the ‘discounted option.’ It will be interesting to follow just how quickly the remaining single-hulls make their exodus. We maintain that some will trudge ahead, paying for dry docking repairs and CAS expenditures before the year is up. In fact, one could argue that the last few singles floating should do quite well given the scarcity of their kind. But many will opt not to take on these expenses, particularly as today’s single-hulls face a 40% fleet utilization and discounted freight rates at that. The final call for some tankers may come from the breakers, whose steadily rising rates may prove too powerful for even the most steadfast of sing

The final call for some tankers may come from the breakers, whose steadily rising rates may prove too powerful for even the most steadfast of single-hulls to resist. With IMO13G regulations taking force, and the economics stacked against singles, 2010 may just get a chapter in our tanker history books as ‘the year of the exits’, concluded Mcquilling.

Nikos Roussanoglou, Hellenic Shipping News Worldwide

Što, iznad 1600 ti ne paše?

Što, iznad 1600 ti ne paše?
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A strah me te razine više od samog vraga. Nikako prešišat, ka da je ukleta.

[smiley]

Evo malo povijesti i statistika :Vaš link

Na današnji dan- dionica me iznenadila stabilnom cijenom….u portfelju jedna od trenutno
dobrostojećih …/ bez dokupa /…

Tanker acquisitions double from last year
Monday, 31 May 2010
As improved sentiment and a bullish stance from ship owners hit the market from the beginning of the year, on renewed optimism on the recovery prospects of the global economy (despite the recent hick-ups). As a result the volume of tanker transactions on the second hand market this year has almost doubled that of the same period of the previous year. According to the latest weekly report from Mcquilling Partners, investors are anxiously acquiring tonnage, as asset prices keep on recovering from the lows back in late 2009. “As the demand for tanker-borne trade rises in line with economic recovery, improved earnings in the freight markets have spurred an increase in asset values over the last six months. But as the international community emerges from widespread recession, the path for growth is anything but certain. Various blips on the radar, such as the sovereign debt instability being observed across Europe, continue to take us one step back for every two steps forward” says the report.
“We’ve observed a spike in the number of secondhand tanker transactions this year, with nearly 110 sales recorded in the first five months (MR-VLCC, not including FSO). Liquidity is returning to the asset markets, particularly in comparison to 2009 when only 59 sales were recorded through May. However, while the current level of sales has significantly increased from 2009, it is still shy of the 126 vessels sold during the same period in 2008” said Mcquilling.
Of course, as was the case back in 2008, investors couldn’t wait to jump into the freight markets, with earnings skyrocketing, as a result of new highs in global demand for liquid fuels. It’s worth noting that VLCCs were earning over $165,000/day at the peak, and the BDTI hit 2,347. The resulting demand for tonnage brought on record-breaking asset values, driving the value of a five-year old VLCC up to $155 million. As 2008 progressed and consumers reacted to $147/barrel crude prices, the demand for tankers and freight rates plummeted. The BDTI dropped to 1,340 only one month after its all-time peak, and asset values reacted sharply. Tanker earnings continued their descent into 2009, and only saw glimmers of a recovery in the fourth quarter as demand began to improve. During 1H2009, VLCCs earned $28,100/day on the spot market which deteriorated the value of five-year old tonnage down to $72 million, or by 54% in just over one year.
“2010 has enjoyed some recovery in freight rates. VLCCs have averaged $41,200/day, up 47% from the same period last year. With the prospects of profitable ownership revisited, the demand for tanker tonnage is returning. We note that the growth in asset values has lagged the freight market’s recovery, but December 2009 appears to have been the bottoming out that investors were waiting for before returning to the asset markets. With asset values still reasonably low, and earnings relatively healthy, the uptick in secondhand tanker sales is likely to continue until demand exaggerates prices, or earnings take another dip. Either way, we fear that the road to recovery in the tanker asset markets will be as bumpy and volatile as the path out of economic recession” concluded the report.
Earlier, the US-based company had noted that the rapid phasing out of older single hull vessels, already from 2009, has also played its part, in terms of determining the new balance between supply and demand. Since January 2009, the VLCC fleet has dropped from 96 single-hulls (a 19% share of the fleet) to only 36 or a 7% share at present. VLCC’s fall particularly prey worthy to G(8), given the inflexible nature of their trade and the long list of supertanker ports already gearing up to close the doors on these vessels.
Of course, all is not bad for owners, as the scrap market has picked up rapidly since late 2008. “Demolition prices for tanker tonnage have risen rather steadily since 2009 after dropping t

HRVATSKA 130 000 23.06.2010 WAFR ST.CROIX WS 107,5

ako nisam krivu izračuna mislim da se radi o cca 30.000 USD/day.

PBZ Invest prodao i kratio poziciju… Prije Paktor kratio, jedina novost je ulazak RAIFFEISEN investa(jedan od njihovih fondova) u top 10!
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6. ZAGREBAČKA BANKA D.D. 2.198 0,35 Skrb. račun ZAGREB, HRVATSKA -47

10. ĆORIĆ DANKO 935 0,15 Osnovni račun ZAGREB, HRVATSKA +25

Dakle, proteklih nekoliko mjeseci iz top 10 su prodavali veći dioničari PAKTOR D.O.O., pbz invest, zb invest, te je pozitivna stvar ulazak RAIFFEISEN investa(jedan od njihovih fondova) u top 10 uz dokup Ćorić danke.
Naravno, negativan kontekst su previranja u zadnjih mjesec-dva, uz pad cijene ali i psihološki efekat pada svjetskih burzi. Trenutno:
Nordic American Tanker Shipping Ltd. (NAT) At 2:45PM EDT: 27.76 Down 0.50 (1.77%)

sve je to fino, ali oporavak ove dionice očekujem početkom 2011, dakle dugoročno kupovati, a kratkoročno kao i cijeli ZSE… prognoza kud koji mili moji. Istina da je dolar značajno porasa, ali su vozarine opet na graničnim razinama isplativosti. Nafta se komeša na plus/minus par dolara oko 70$, a BDTI je u zadnja dva tjedna doslovce zaronio sa cca 1100 na 898.

http://www.seebiz.eu/hr/tvrtke/transport/tankerska-plovidba-kupljeno-9800-dionica-radi-dodjele-radnicima,80810.html

http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=105023&Itemid=32 Chinese demand for crude oil tankers rises 42 percent