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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- White Energy Company Limited
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
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