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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, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
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