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Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
 While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly tables with the concluded deals in the DRY market - a phenomenon common in the first months of the year characterized by low seasonality - there is another indicator that would be in our opinion more representative of the trends to prevail in relation to the activity in dry S&P. This indicator is the intensity of the movements/interest one notices before the completion of a deal by potential buyers. And while the number of deals is easily quantified in numbers in the context of a table, the above-mentioned indicator is a qualitative / empirical one, possibly entailing a greater weight on the trend that will follow in numbers.
More specifically, during the last few weeks, we have observed a gradual rise in buying interest that translates both into new purchase enquiries and reactivation of older ones that had come to a halt in the last months of the year. This activity, in no way, comes close to the one we experienced in September/October 2021, but it is a satisfactory basis to hint an increase in buying and selling soon after the freight market stabilizes and starts to show direction following the Chinese New Year and more so after the Winter Olympics. This will help to reduce the gap that has been created between the prices offered by buyers and demanded by sellers, which has so far kept benchmark values resilient despite the freight market slump. The course of the deals will surely be reinforced by any new ships for sale that usually enter the market after CNY mainly from the Japanese market. Also, let's not forget that this year, ships built in 2007 and 2012, with 2007 being the beginning and 2012 the peak of the wave of newbuildings deliveries in dry, reach 15 and 10 years respectively with what this entails for their special survey dates and the current policy of fleet renewal by shipowners, so increased circulation of assets of this age bracket is likely to be observed.
As far as tankers are concerned, the relative stability to lackluster freight levels prevailing in the freight market has extended the buying window in the sector and helps so that increased buying interest translates into more deals compared to dry, since the parts of the transactions - buyers and sellers - enter the negotiating table having a smaller gap to fill. It is worth mentioning that among those interested in tankers, there are dry bulk players who either want to enter the sector for the first time or return and diversify their assets to take advantage of cyclicality, so a possible difficulty of completing deals in dry - at least for the immediate future - can turn them more decisively towards tankers.
By Nassos Soulakis,
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.
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Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
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