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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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Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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