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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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Parliament of New Zealand
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
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