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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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Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
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