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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, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
Friday, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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Showing 1026 to 1030 news of total 6871 |
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- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
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