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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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Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
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