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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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Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
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- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- White Energy Company Limited
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
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