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Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
 It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Covid-19 shockwaves of declining demand for a number of commodities and the subsequent pressure on freight rates. Preliminary data reveals a 56% drop in the number of dry bulk second hand sales year to date, while we expect this trend to continue in the short term as the vast majority of Buyers remains reluctant to proceed decisively and invest in available candidates. The fact that the gap between their price ideas and those of the respective Sellers remains wide, together with the growing uncertainty surrounding the prospects of the sector, have pushed more investors to the sidelines at least for the time being.
In total contrast with what’s been happening on the dry bulk side, activity in tanker sector remains robust, with Buyers competing intensely to secure vessels with prompt delivery in order to take advantage of the improved freight market. As a result, asset prices have been moving up quickly across the different sizes and respective age groups.
The M/T Olympic Leader (309kdwt blt ’05, S. Korea) is reported sold for USD 39.2m to Greek buyers c/o Altomare, while the price includes a BWTS on order. This is the second VLCC this Buyer has been linked to, following the purchase of M/T TI Hellas (319kdwt blt ’05, S. Korea) a couple of weeks ago. In any case, the price of M/T Olympic Leader shows a further increase in values after the recent sale of M/ T Takasaki (300kdwt blt ’05, Japan) at USD 37.8m.
Following last week’s Aframax sale of M/T Pallas Orust (114kdwt blt ’04, S. Korea), which was bought by Indonesians at USD 14m, the Greek controlled LR2s M/T Makronissos (106kdwt blt ’02, S. Korea) and M/T Agathonissos (106kdwt blt ’02, S. Korea) are now reported sold at region USD 13m each, which is in line with the market.
In the MR segment, Monaco based buyers c/o Transocean are being linked to the acquisition of M/T Glenda Meredith (46kdwt blt ’10, S. Korea) at a rumoured price of USD 19m basis BWTS fitted. It is interesting to note that this is the first reported sale of a deepwell pump MR2 of this vintage since mid-January.
Going forward, uncertainty reigns over both the dry bulk and tanker second-hand markets for different reasons. On one hand, dry bulk asset values still fail to reflect the returns in the freight market, rendering an alignment of Buyers’ and Sellers’ ideas challenging and further impeding SnP activity as a result. On the tanker side, the fact that freight rates have been moving down quickly in the past days could substantially impact the appetite of Buyers given that it was the lucrative returns that enticed them in the first place to go after prompt delivery candidates that would allow them to enjoy a quick and substantial return on their investment.
By Vasilis Moiris
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.
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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
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- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
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