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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, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
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