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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, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- PTC India Limited - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bhushan Steel Limited - India
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