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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, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
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- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Petron Corporation, Philippines
- The University of Queensland
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
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