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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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Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
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