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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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- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- MS Steel International - UAE
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Australian Coal Association
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Planning Commission, India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
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