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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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Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
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- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
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