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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, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- VISA Power Limited - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
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