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Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
 Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to their historical lows throughput the year, however asset values have disconnected from the market trend responding to higher steel prices and a countercyclical investment behavior, stemming from oil demand recovery expectations. As a matter of fact, across all tanker segments, values of wet tonnage enjoyed a significant uptrend since the beginning of the year with notable SnP interest in older units for the most part of the year.
In the larger sizes, a representative sale of this trend could be the FOS (307KDWT 2002 Hyundai) which achieved a price of $28m, significantly higher than when compared to the August sale of M/T KOS (306kdwt 2001 Daewoo) which fetched a price in the region of $26 million or even the sale of Maran Cygnus (306kdwt 2001 Daewoo) which fetched $23,7 million in Q1-2021. Moreover, the Olympic Legend (309kdwt 2003 Samsung) was sold for region $31 million in July, while in January the Pantariste (309kdwt 2002 Samsung) was sold for xs $23 million.
Another sale following this trend in the larger sizes would be Jag Lata (105kdwt 2003 Hyundai) which was sold in the region of $ 13,5 million during this quarter, compared to the same aged Aegean Freedom (106kdwt 2003 Hyundai) sold in February 2021 at a price in the high 10s.
At the same time, as far as modern sale candidates are concerned, the trend continues in the sales of LR2 vessels, Cabo Misaki (74kdwt 2017 Sungdong) which achieved around $32 million within August, while the Nord Lavender (74kdwt 2017 Sungdong) got sold for xs $31 million in May.
Looking at the smaller sizes, latest sales in the last couple of weeks show the BWTS fitted Justice Express (46kdwt 2011 Shin Kurushima) managing to fetch $ 17 million, around 6% more than the last same-aged Mearsk Miyajima (48kdwt 2011 Iwagi) also fitted with BWTS which got sold in May for around $16m. In addition to that, New Breeze (48kdwt 2010 Iwagi) changed hands in July for $15,5 million, while sister vessel Bright Fortune achieved high $ 13 million back in February, both vessels fitted with BWTS and with similar dates for SS/DD.
This is without a doubt a positive sign and one could be reservedly optimistic that asset prices are going to continue to rise. The way the SnP tanker trend develops, and factoring in the rise in bunker prices, it seems that we could be in for a further upward repricing point with the focus potentially shifting on younger units
By Nassos Soulakis,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- The Treasury - Australian Government
- White Energy Company Limited
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- GMR Energy Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
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