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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- MS Steel International - UAE
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
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