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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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Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- The University of Queensland
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
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