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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
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