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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, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
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Showing 1096 to 1100 news of total 6871 |
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- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
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