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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, 20 October 21
CHINA COAL HITS RECORD HIGH AMID TIGHT SUPPLIES - REUTERS
China coal prices hit a record high on Tuesday buoyed by a widening power crunch and cold weather despite Beijing’s efforts to bolster supply ...
Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
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- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
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