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Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
 The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a decade. As a result, vessels’ values have improved substantially, whilst demolition activity has stalled over the past two months. Older ships are attracting a lot of SnP interest at levels substantially above their scrap values. On top of this, the dry bulk orderbook continues to hover at low levels, as yards’ slots are filled with orders on other more profitable sectors, namely containers.
China has been the primary driving force behind the market improvement, as steel production has been running at record high levels, while demand for grains has accelerated owing to the better trade relationships with USA and the pig herd recovery from African Swine Fever which previously had a substantial impact in the specific trade.
What is more, commodities demand from the rest of the world is accelerating and intensifying trade inefficiencies in favor of dry bulk trade i.e. international steel prices are at record high levels, West-East steel price arbitrages, industrial output growth globally driving demand for iron ore and coking coal and a projected above average hot summer is seeing Europe and Asia competing for thermal coal. Minor bulks demand is also upbeat and sustains the upward freight trend for the geared dry bulk segment. The commodities price rally is in the meantime incentivizing more production and exports by miners, in order to take advantage of high prices, thus market players expect seaborne volumes to increase further in the coming months.
Increased trade has resulted in port congestion mounting to multi year highs; Port congestion in the Pacific is also supporting the supply side in the short term mainly in the Panamax sector whilst it is expected to have a positive impact on Capesize as well.
The freight market picture has been positively reflected into asset values. It is not though that the larger sizes have shadowed the geared ships, as in comparison geared vessels and Panamax in sequence have so far performed better in proportion to their value than a Capesize. Nonetheless, current FFA levels are supporting a further improvement in the spot market for Capesize during the second half of the year. If the spot market catches up pace with period earnings suggested by FFA levels as market participants anticipate, we should expect SnP interest to increase in the next quarters for the largest size and asset values to appreciate in tandem.
By Vasilis Moiris,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
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- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
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