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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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Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
Thursday, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
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- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Planning Commission, India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
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