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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, 04 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 ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Planning Commission, India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- The University of Queensland
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
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