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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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Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
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- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Planning Commission, India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- The University of Queensland
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
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