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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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Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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