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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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Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
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- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
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