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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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Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
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- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
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