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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, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
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