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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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Wednesday, 20 October 21
CHINA COAL HITS RECORD HIGH AMID TIGHT SUPPLIES - REUTERS
China coal prices hit a record high on Tuesday buoyed by a widening power crunch and cold weather despite Beijing’s efforts to bolster supply ...
Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
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- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Planning Commission, India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
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