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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Australian Coal Association
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
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