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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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Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
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- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- The University of Queensland
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
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