We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms of sentiment. The so called work horse of the segment, the Panamax that has been very sought after for a short period, is now slowly losing popularity to the increasingly attractive Supramax. Values have risen and dropped in the blink of an eye along with the number of actual buyers.
On the tanker side, appetite was never subdued. From MRs up to VLCC there is an increasing number of investors that inspect, bid and buy across all segments and ages. If we focus on the most resilient type of tanker, which is the MR2 tanker, we can see that with the exception of June and July, monthly SnP transactions have been in the double digits during the past five months. The table below shows exact numbers. (please find attached)
In a total of 61 sales since May, 36 were S. Korean built and 18 were Japanese built. There are no surprises here. Looking at the numbers something interesting to point out is that almost half of these deals concern ships that have been built between 2008 and 2011. So this four year bracket seems to be the sweet spot as far as balancing price and longevity.
Autumn is traditionally a period where charter rates tend to increase. With 12 sales having concluded so far in September, we can see the popularity of MR2s remains at full force. Expectations about the 2020 regulations have provided enough reason for buyers to look for ships in order to take advantage of the anticipated increase of cargoes next year. It remains to be seen if this bet will be won. Having said that, the reality is the resilience of MRs has been remarkable. There were times that many thought that the handy MR tankers will be the way forward or the LR2s. So far both predictions failed to hold truth.
Going back to the sweet spot of vessels that have been built around 2008-2011, values range on average from low $16.0m for a Korean built in 2008 to low $20.0m for a Korean 2011 built. Anything even one year older sees a drop in the value of more than 10%, whereas candidates built post 2011 are asking for a significant premium above. It seems that the market has indeed created expectations for better days but both investors and banks are still not that bullish in order to bet on younger ships.
2020 is just around the corner so we won’t have to wait too long to see how things will unfold and if the 08-11 built vessels will justify their current popularity.
By Timos Papadimitriou
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
|
|
|
Showing 56 to 60 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
|
| |
| |
|
