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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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Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
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Showing 16 to 20 news of total 6846 |
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- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
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