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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
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