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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, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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Showing 1106 to 1110 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
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