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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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Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
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- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
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