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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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Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
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- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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