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Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
 It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner's buying interest remains at firm levels and on some occasions we feel that asset values are softening as we are approaching the end of the year in this challenging environment.
Starting with the Panamax segment, it was reported that Japanese owners have sold the M/V Shoyo (77,008dwt/2008 Namura, Japan built) at a price around USD 11,5 million basis special survey passed and BWTS fitted to Greek buyers. Comparably, in August the M/V Priscilla Venture (77,283dwt/2008 Oshima built) was reportedly sold at USD 11,35mill to Greek buyers as well.
As far as the Ultramax sector in concerned, Scorpio Bulkers are continuing their disposal of bulkers and they have announced the sale of four Ultramaxes; The M/V SBI Antares, M/V SBI Bravo, M/V SBI Hydra and M/V SBI Maya (61,000Ddwt/2015 NACKS, China built) have sold for USD 67.0m enbloc to clients of Hong Kong based owner, Pacific Basin. In addition, after the initial sale did not materialize, we are hearing now that the TESS 58 M/V Sea Melody (58,000dwt/2010 Tsuneishi Cebu, Japan built) which has BWTS fitted, has been committed to Greek buyers for a price at the range of USD 11.0 million.
On the tanker side, despite the fact that freight rates remain at very low levels, there is still some activity and older ships are still finding a new home. Modern ships are rare and as such they attract a lot of interest due to the fact that values are at low levels since the market drop.
It is being reported that Greek buyers clients of Pantheon Tankers have bought the M/T Jing Gang San (318,000dwt/2013 Shanghai Jiangnan, China built) for USD 45.2 million.
In the Clean carrier market, Japanese owners NYK have sold their second LR2 unit in recent weeks; the sale of the M/T Champion Prince (105.000dwt/2012 HHI, South Korea built) has materialized for a price at USD 24,5 million to Greek buyers. Last month, NYK have sold the sister vessel M/T Champion Princess reportedly for USD 25,5 million to Indian buyers which comes as evidence of the downward trend that the freight rates in the Tanker market have been following.
It appears that whilst buyers' appetite remains firm we should be able to report more transactions in the coming weeks as a number of ships will be inviting offers.
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, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
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