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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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- ASAPP Information Group - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
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