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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Planning Commission, India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- White Energy Company Limited
- Dalmia Cement Bharat India
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