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