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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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Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
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- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- White Energy Company Limited
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Planning Commission, India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
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