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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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Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- White Energy Company Limited
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
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