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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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Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
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- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Planning Commission, India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
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