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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, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
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- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Planning Commission, India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
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