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