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Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
 It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Covid-19 shockwaves of declining demand for a number of commodities and the subsequent pressure on freight rates. Preliminary data reveals a 56% drop in the number of dry bulk second hand sales year to date, while we expect this trend to continue in the short term as the vast majority of Buyers remains reluctant to proceed decisively and invest in available candidates. The fact that the gap between their price ideas and those of the respective Sellers remains wide, together with the growing uncertainty surrounding the prospects of the sector, have pushed more investors to the sidelines at least for the time being.
In total contrast with what’s been happening on the dry bulk side, activity in tanker sector remains robust, with Buyers competing intensely to secure vessels with prompt delivery in order to take advantage of the improved freight market. As a result, asset prices have been moving up quickly across the different sizes and respective age groups.
The M/T Olympic Leader (309kdwt blt ’05, S. Korea) is reported sold for USD 39.2m to Greek buyers c/o Altomare, while the price includes a BWTS on order. This is the second VLCC this Buyer has been linked to, following the purchase of M/T TI Hellas (319kdwt blt ’05, S. Korea) a couple of weeks ago. In any case, the price of M/T Olympic Leader shows a further increase in values after the recent sale of M/ T Takasaki (300kdwt blt ’05, Japan) at USD 37.8m.
Following last week’s Aframax sale of M/T Pallas Orust (114kdwt blt ’04, S. Korea), which was bought by Indonesians at USD 14m, the Greek controlled LR2s M/T Makronissos (106kdwt blt ’02, S. Korea) and M/T Agathonissos (106kdwt blt ’02, S. Korea) are now reported sold at region USD 13m each, which is in line with the market.
In the MR segment, Monaco based buyers c/o Transocean are being linked to the acquisition of M/T Glenda Meredith (46kdwt blt ’10, S. Korea) at a rumoured price of USD 19m basis BWTS fitted. It is interesting to note that this is the first reported sale of a deepwell pump MR2 of this vintage since mid-January.
Going forward, uncertainty reigns over both the dry bulk and tanker second-hand markets for different reasons. On one hand, dry bulk asset values still fail to reflect the returns in the freight market, rendering an alignment of Buyers’ and Sellers’ ideas challenging and further impeding SnP activity as a result. On the tanker side, the fact that freight rates have been moving down quickly in the past days could substantially impact the appetite of Buyers given that it was the lucrative returns that enticed them in the first place to go after prompt delivery candidates that would allow them to enjoy a quick and substantial return on their investment.
By Vasilis Moiris
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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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Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
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- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Planning Commission, India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
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