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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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- The University of Queensland
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
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