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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 ...
Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
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- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Australian Coal Association
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
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