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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Parliament of New Zealand
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Commonwealth Bank - Australia
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