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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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Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
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- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
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