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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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Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
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