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