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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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Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
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