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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, 16 April 20
MARKET INSIGHT - INTERMODAL
As everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch the reaction of tanker rates that were in ...
Monday, 13 April 20
SUPRAMAX: A 56,000DWT SHIP WAS FIXED DELIVERY PARADIP, REDELIVERY CHINA, AT $4,700 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Saturday, 11 April 20
FAQ: COVID-19 AND CLUB COVER - UK P&I
KNOWLEDGE TO ELEVATE
The Coronavirus (COVID-19) pandemic has generated a significant number of enquiries and questions from Members in recent ...
Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,500,000-1,620,000 Metric Tons (M ...
Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
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Showing 1016 to 1020 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
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