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Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
 Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to their historical lows throughput the year, however asset values have disconnected from the market trend responding to higher steel prices and a countercyclical investment behavior, stemming from oil demand recovery expectations. As a matter of fact, across all tanker segments, values of wet tonnage enjoyed a significant uptrend since the beginning of the year with notable SnP interest in older units for the most part of the year.
In the larger sizes, a representative sale of this trend could be the FOS (307KDWT 2002 Hyundai) which achieved a price of $28m, significantly higher than when compared to the August sale of M/T KOS (306kdwt 2001 Daewoo) which fetched a price in the region of $26 million or even the sale of Maran Cygnus (306kdwt 2001 Daewoo) which fetched $23,7 million in Q1-2021. Moreover, the Olympic Legend (309kdwt 2003 Samsung) was sold for region $31 million in July, while in January the Pantariste (309kdwt 2002 Samsung) was sold for xs $23 million.
Another sale following this trend in the larger sizes would be Jag Lata (105kdwt 2003 Hyundai) which was sold in the region of $ 13,5 million during this quarter, compared to the same aged Aegean Freedom (106kdwt 2003 Hyundai) sold in February 2021 at a price in the high 10s.
At the same time, as far as modern sale candidates are concerned, the trend continues in the sales of LR2 vessels, Cabo Misaki (74kdwt 2017 Sungdong) which achieved around $32 million within August, while the Nord Lavender (74kdwt 2017 Sungdong) got sold for xs $31 million in May.
Looking at the smaller sizes, latest sales in the last couple of weeks show the BWTS fitted Justice Express (46kdwt 2011 Shin Kurushima) managing to fetch $ 17 million, around 6% more than the last same-aged Mearsk Miyajima (48kdwt 2011 Iwagi) also fitted with BWTS which got sold in May for around $16m. In addition to that, New Breeze (48kdwt 2010 Iwagi) changed hands in July for $15,5 million, while sister vessel Bright Fortune achieved high $ 13 million back in February, both vessels fitted with BWTS and with similar dates for SS/DD.
This is without a doubt a positive sign and one could be reservedly optimistic that asset prices are going to continue to rise. The way the SnP tanker trend develops, and factoring in the rise in bunker prices, it seems that we could be in for a further upward repricing point with the focus potentially shifting on younger units
By Nassos Soulakis,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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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Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
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- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Australian Coal Association
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
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