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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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- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
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