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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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Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
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Showing 911 to 915 news of total 6871 |
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- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- MS Steel International - UAE
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
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