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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, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
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