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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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Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
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- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Trasteel International SA, Italy
- Minerals Council of Australia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
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