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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, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
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- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
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