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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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Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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