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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, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
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- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Aditya Birla Group - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Planning Commission, India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
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