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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, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Australian Coal Association
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
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