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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, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
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- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- The University of Queensland
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
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