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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, 11 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 ...
Tuesday, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
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- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
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