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Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
 Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sector more or less tracking the market trend. However, since April, this trend appears to be revoked; despite a lackluster tanker freight market, tanker SnP transactions gained pace tracking the bulkers volumes. It is interesting to note, that older tankers units attracted the majority of SnP interest, contrary to bulkers, where the majority of transactions took place for 10Y old units and younger. Record high steel prices are supporting asset values across the board, despite the tanker market underperforming, with owners positioning for a market recovery, while older units are still relatively undervalued.
More specifically, analyzing the S&P activity of both sectors since the beginning of this year we would observe that in January, 63 Dry Bulk deals were recorded. Among these close to 40% (25 units) correspond to Supramax vessels while around 20% (13 units) to Panamax/Kamsarmaxes. Handysize and Capesize vessels hold an equal proportion of around 15% (9 units) each whilst 5 Ultramax and 2 Handymax vessels changed hands. With regard to the age distribution, 11% were around 5Y old, 60% 10Y old and 29% around 15Y and older. With reference to Tanker vessels, 29 units were sold; 12 VLCC, 7 MR, 4 Aframax, 3 Handysize and 3 Suezmax vessels. Close to 35% were aged around 5 yrs old and younger, 7% around 10Y old and close to 58% 15Y old and older.
During February 2021, 64 deals in the Dry Bulk sector were reported. More than one-third of them (24 vessels) corresponded to Supramax vessels, Panamax/Kamsarmax vessels hold nearly 25% (15 units) of the entire activity while Handysize units contributed around 20% (13 units). In addition, 4 Capesize, 3 Post-Panamax, 3 Ultramax and 2 Handymax vessels were sold. Around 75% of the vessels committed were aged around 10Y old. As far as the Wet Sector, 25 vessels changed hands; 8 Suezmax, 7 Aframax, 4 VLCC, 4 MR and 1 Handy Tanker. The 80% of them were aged around 15Y old and older.
In March 2021, 86 Dry Bulk vessels were committed. Panamax/Kamsarmax vessels hold a 30% (26 units) of the entire SnP realm followed by Supramax vessels which hold a proportion of 25% (22 units). Handysize totalled 18 (21%) while Capesize vessels contributed 15% (13 units) of the total SnP activity. Finally, 4 Ultramax and 3 Post-Panamax vessels changed hands. Regarding the age of the above mentioned vessels, 18% were around 5 yrs old and younger, 57% around 10 yrs old whilst the rest 25% around 15 yrs and older. Tanker sales amounted at 37; 15 Aframax, 13 MR, 5 VLCC and 4 Handy Tanker vessels. The 13,5% of the Tanker vessels were aged around 5 yrs old and younger while 40,5% around 10 yrs old and 46% around 15 yrs old and older.
In April 2021, 62 Dry Bulk deals were concluded. Panamax/Kamsarmaxes and Handysize sustained a 30% and around 20% of the entire realm while Supramaxes fell to a proportion of around 18%. Capesize amounted at 11 units (18%) while 8 Ultramax and 1 Post-Panamax changed hands. As far as the age distribution, slightly more than 30% were 5Y old and younger, more that 50% around 10Y old and 15% around 15Y and older. In the Wet market, 58 deals were recorded; 23 Aframax, 14 VLCC, 11 MR, 4 LR1 and 4 Suezmax units. Around 21% of them were aged 5Y old and younger, slightly more that 12% around 10Y old and close to 67% 15Y old and older.
by Nassos Soulakis
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, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
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