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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, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
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Showing 911 to 915 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- PTC India Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Australian Coal Association
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
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