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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, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
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- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Marubeni Corporation - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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