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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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- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
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