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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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Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
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