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Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
 After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. Over the last week, prevailing buying interest in the wet sector continued to grow with the spotlight being on modern MRs and vintage VLCCs. A total of 8 deals were reported in the MR segment, the vast majority of which were built in South Korea and were less than 5 years old up to Resales, while a couple of them were built in Japanese yards aging around 10 and 20 years, respectively. In the VLCC segment more than a handful of S&P transactions were recorded with most of them being built in South Korean yards and more than half fitted with scrubbers while the whole S&P realm consisted of vessels aged above15 years.
In the NB market, with regards to the VLCC segment, during Q12021, around 25 orders were placed whilst all of them were in Korean shipyards, the highest figure since Q2-2015 when circa 30 vessels were ordered, but VLCC earnings were hovering above $40k/day vs the current negative BDTI TCE for VLCCs. The closest Q1 contracting levels were seen during the first quarters of 2014, 2015 & 2019 when around 15-20 orders were placed. Compared to Q12020, the figure is around 4 times higher while it represents around 60.0% of the total annual placed orders during 2020. For reference the VLCC current orderbook accounts of approx. 96 vessels.
VLCC orders placed during 2021 up to date, were contracted for account of Greek, Korean, Malaysian and US based buyers, with Greeks holding a proportion slightly less than half of the total. Out of the 8 different parties that put these orders, 3 of them having recently sold their vintage tonnage are aiming for a fleet renewal while a couple of them are aiming at expanding their fleet. What is more, the rest 3 parties with an orderbook corresponding to around 9 vessels are newcomers into this segment. Although owners of such tonnage are struggling to confront the current low rates, their choice either in expanding/renewing their fleet or even entering this segment, is in fact a vote of confidence to the crude oil market and proves their high expectations.
As for the other crude oil segments, new contracts have been relatively subdued compared to VLCCs and have come below the past 5 year average during Q1s. Regarding the MR segment, around 18 units were contracted, being the highest Q1 contracting figure since Q12014, when approx. the same number of orders was placed.
Overall, as owners maintain a positive sentiment regarding the wet market and combined with an aging fleet, this tendency has led to an increased number of n/b orders by historical standards vs where the actual market stands, especially in the VLCC segment. However, tankers supply dynamics still look favorable over the next two years, as total orderbook as a % of the fleet continues to start at multiyear lows, with VLCCs orders below 10% of the fleet in dwt terms and below 9.0% for the rest of the crude segments.
By Mohamed Rabie,
Research Analyst
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, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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 ...
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- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
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