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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, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
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- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
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