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Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
 Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a few things about the SnP market behavior.
Interestingly, the dry secondhand market remained hot amid the holidays, with Handysize and Supramax sectors attracting the majority of buyers’ interest. Handysize in particular, have rebounded strongly both interest wise and asset value wise compared to past two years. In more than few cases, we have seen owners traditionally active in other asset classes turning their interest towards Handysize purchases.
Another sign of the shift in market dynamics is that we have been hearing more often about off market deals at firm levels; some buyers prefer to pay a premium either in order to avoid competition or because they believe that this premium will turn out to be the immediate asset value upside on the next day.
What is also impressive is that asset values of older vessels have increased at a faster pace and the differential to scrap value has widened since the beginning of the year. At the end of 2020, 20 year old vessels of any size were getting offers from buyers on a scrap value basis plus a small premium. For comparison, three months later we are seeing Panamax unit built in 2001 with SS / DD surveys passed and BWTS installed to fetch above USD 9.0 million - levels last seen for 20 year old Panamax units back in 2011 - surpassing the 2017/2018 momentum, when the market was on an upward trend and China had raised the floor with the CCS approval requirements. Naturally, asset values for older vessels have been further supported by the increase in scrap prices at multi year highs above $480/ldt over the past two weeks, after briefly retreating at $420/ldt earlier in February.
Looking into the tanker sector, we could say that secondhand interest has also started to increase over the past couple of weeks across all sizes. Of note is that a 10Y old LR2 attracted interest by 15 buyers inspecting it, with the majority being Greeks. We also saw increased buying interest on very modern MRs and 2 resale MRs built in China, being bought by European owners at 31.5 million. Could this be a precursor that the market has found its bottom and expectations start to turn positive? While the Suez Canal blockage certainly aided in lifting sentiment by providing a short freight boost to certain tanker segments, the outlook is expected to start improving fundamentally later in 2021, when refineries are expected to ramp up processing rates, following the destocking of oil products over the past several months.
By George Iliopoulos,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- Central Java Power - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
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