España
Es que yo creo que les van a meter una ostia a todas ellas. Esa lo que tiene es una amplia foto y un balance correcto, está entre las 3 con menor Net LtV de los Crude Tankers.
Yo sigo con mi estrategia de operar en INSW, TK y SSW. Ya darán sus oportunidades.
El GNL lo juego a través de TK (vía TGP). Tal vez me atreviera con Dynagas mucho más abajo (por los 6-7 dólares).
Freedom is driven by determination
Ese es el motivo por el que no tengo ya nada de acciones marítimas a nivel particular. Hace mucho tiempo que no recuerdo no tener nada de este sector que tanto sigo.
Freedom is driven by determination
Muchas gracias por el link !
Irá patanes a la ampliación de quabit??
Entiendo que Cobas irá a la ampliación de quabit, básicamente por aquello del put your money where your mouth is.
Yo en España tengo telefónicas por el dividendo y nada más. Espero tener Técnicas Reunidas si se deja.
En España no veo nada más interesante.
Freedom is driven by determination
Pienso que técnicas le hemos visto el mínimo y ira arriba,sólo es una opinión por supuesto
Estaba revisando los comentarios de Paddy Rogers (CEO EURONAV) en la nota de prensa y se confirma lo que venía escribiendo estos meses atrás: los rates han sido terribles.
Estos rates tan bajos en VLCC y Suezmax han arruinado el quarter de EURONAV. Los rates siguen terribles en este mes de Abril por lo que se presume que el Q2 va a ser también malo. Estacionalmente, los rates son muy malos todos los veranos por lo que el Q3 va a ser incluso peor.
Los resultados de toda las Crude Tankers van a ser entre malos y muy malos. No me extraña la cara de funeral de todos los CEOs en el panel que puse ayer (video de youtube).
No me queda ninguna duda que se van a recuperar primero los rates de los Product Tankers.
Hay demasiado barcos
Freedom is driven by determination
El CEO de EURONAV es uno de los tíos más fiables del panorama marítimo.
Lo tiene claro.
TANKER MARKET
Sustained freight rate pressure continued throughout the first quarter. This reflected an oversupply of largely older tonnage compounding both a restriction in supply of barrels from the extended OPEC export cuts and new vessel supply entering the fleet. Recycling has become a strong and welcome feature with 21 VLCCs removed from the global fleet year to date. However, the fleet also had to absorb 8 new VLCCs during the same period and since the second quarter of 2017, the return to the global trading fleet of around 20- 30 VLCCs from logistical storage as the oil price structure has moved into backwardation. This level of vessel supply combined with the concentrated nature of the order book, with 49 VLCCs due for delivery before the end of 2018, provides a challenging headwind for tanker operators. Other drivers of the crude tanker market however remain constructive. Asset prices at both the new build and scrap end of the spectrum have been consistently pushing higher since the third quarter of 2017. U.S. crude exports have remained strong at 1.5m bpd during the first quarter with further infrastructure plans announced during the quarter to maintain and grow this new trading route. Annual forecasts for crude demand have been, unusually for this early part of a calendar year, upgraded with consensus growth for 2018 already at 1.6m bpd – the same level recorded in both 2016 and 2017
OUTLOOK
Demand for crude overall and expansion of ton miles remain positive for the tanker sector. The prospect for oil supply also remains supportive with a higher (and relatively stable) oil price driving new supply from Brazil, Russia and most notably U.S. shale. However, the concentrated nature of the order book combined with a current oversupply of tonnage are likely to provide a challenging backdrop for tanker operators until the world fleet can sufficiently rebalance. An elevated level of recycling activity is positively impacting a large tanker fleet, which is at a level of maturity in terms of average fleet age not seen since the early 2000s, and will provide a supportive medium-term dynamic. However, the rebalancing of the tanker market requires further affirmative action in reducing, primarily, older tonnage and continued restraint from contracting new buildings before the freight market can gain traction. Since the second half of 2016 Euronav has undertaken a number of proactive measures to bolster its capital structure to retain the capability to navigate the tanker cycle. The structure of the proposed merger transaction with Gener8 Maritime maintains those robust capital ratios. This structure should allow the Combined Entity post-merger to continue to have some resilience to a challenging freight rate market yet retain exposure to any potential upside when the freight rate environment improves. So far in the second quarter of 2018, the Euronav VLCC fleet operated in the Tankers International Pool has earned about USD 13,187 and 42% of the available days have been fixed. Euronav’s Suezmax fleet trading on the spot market has earned about USD 12,300 per day on average with 46% of the available days fixed
Freedom is driven by determination