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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, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
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- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- PTC India Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
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