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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, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
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- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Planning Commission, India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
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