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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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Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
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- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
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