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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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Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- The University of Queensland
- PTC India Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
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