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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
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