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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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Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
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 ...
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- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- PTC India Limited - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Planning Commission, India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Latin American Coal - Colombia
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