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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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Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
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- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
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