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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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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Deloitte Consulting - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
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