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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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Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
Thursday, 11 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
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- Mintek Dendrill Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Deloitte Consulting - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
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