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