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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 ...
Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
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- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- The University of Queensland
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
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