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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, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Australian Coal Association
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
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