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Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
 It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner's buying interest remains at firm levels and on some occasions we feel that asset values are softening as we are approaching the end of the year in this challenging environment.
Starting with the Panamax segment, it was reported that Japanese owners have sold the M/V Shoyo (77,008dwt/2008 Namura, Japan built) at a price around USD 11,5 million basis special survey passed and BWTS fitted to Greek buyers. Comparably, in August the M/V Priscilla Venture (77,283dwt/2008 Oshima built) was reportedly sold at USD 11,35mill to Greek buyers as well.
As far as the Ultramax sector in concerned, Scorpio Bulkers are continuing their disposal of bulkers and they have announced the sale of four Ultramaxes; The M/V SBI Antares, M/V SBI Bravo, M/V SBI Hydra and M/V SBI Maya (61,000Ddwt/2015 NACKS, China built) have sold for USD 67.0m enbloc to clients of Hong Kong based owner, Pacific Basin. In addition, after the initial sale did not materialize, we are hearing now that the TESS 58 M/V Sea Melody (58,000dwt/2010 Tsuneishi Cebu, Japan built) which has BWTS fitted, has been committed to Greek buyers for a price at the range of USD 11.0 million.
On the tanker side, despite the fact that freight rates remain at very low levels, there is still some activity and older ships are still finding a new home. Modern ships are rare and as such they attract a lot of interest due to the fact that values are at low levels since the market drop.
It is being reported that Greek buyers clients of Pantheon Tankers have bought the M/T Jing Gang San (318,000dwt/2013 Shanghai Jiangnan, China built) for USD 45.2 million.
In the Clean carrier market, Japanese owners NYK have sold their second LR2 unit in recent weeks; the sale of the M/T Champion Prince (105.000dwt/2012 HHI, South Korea built) has materialized for a price at USD 24,5 million to Greek buyers. Last month, NYK have sold the sister vessel M/T Champion Princess reportedly for USD 25,5 million to Indian buyers which comes as evidence of the downward trend that the freight rates in the Tanker market have been following.
It appears that whilst buyers' appetite remains firm we should be able to report more transactions in the coming weeks as a number of ships will be inviting offers.
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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- The University of Queensland
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
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