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