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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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Thursday, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
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