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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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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
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- India Bulls Power Limited - India
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- The State Trading Corporation of India Ltd
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- Directorate General of MIneral and Coal - Indonesia
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- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
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- Standard Chartered Bank - UAE
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- Petron Corporation, Philippines
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- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Bhatia International Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
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