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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
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- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
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