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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
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