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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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Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
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- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Planning Commission, India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
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