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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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Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
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- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
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