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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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- McConnell Dowell - Australia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
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