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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, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
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- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
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