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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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Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
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- Siam City Cement - Thailand
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
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