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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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Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
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- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
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