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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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Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- The University of Queensland
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
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