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Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
 We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of. The increased buying interest was evident somehow during September to November of 2020 but that was not a surprise, as it is somehow a seasonal trend for the dry SnP market to be active during q4 of every calendar year. What we have not seen for a long time (maybe since December 2013) was non-stop activity during December and January.
And this is the interesting part now. Over the past 11 years, BDI during every January recorded losses to December of the previous year. On average over the above period, BDI has dropped by -26.0% during January, with Capesize leading the declines. This January was different, with BDI exhibiting a counter-seasonal increase to December (+33.3% m-o-m) for the first time since January 2009, when the index had increased by +21.7% m-o-m. This shift in seasonal dynamics was largely Capesize driven both in 2009 and now, with Cape 5TC in Jan 2021 reaching an all-time high for January and a 7 year high for any Q1 so far.
Since the last week of January, BCI has been on a downward trend, with the Cape 5TC recently correcting below Panamax and Supramax, but still at relatively high levels for this time of year. With the BPI and BSI at multi-year high for this time of year at 1689 and 1149 points respectively (as of 8/feb) buyers appetite seems non-stop. Apart from Handysizes 28k to 32k dwt for which asset values increases are relatively lower, all the other sizes are getting significantly higher numbers.
The Pana/Kamsarmax SnP market particularly has been very firm. In Sep 2020, Panamax MV ELENA II 06’blt with survey due in Q1,2021 concluded at low $8s million; in November, same age MV APOLO sold for low $9s mil basis survey due 01/2021 and just now the 06’ blt MV AJAX got low $10s mil again with surveys due promptly. We saw similar increases also in 12’ blt units with MV CORAL AMBER 78k dwt BWTS fitted getting mid-high $14s in December and sister ship CORAL AMETHYST without BWTS getting $16/low 16s mil by the end of January. For younger tonnage with electronic engines Japanese built we have not seen much activity, with the last being the sale of the MV SAKIZAYA NOBLE blt 17’ at $25.5m with balance of TC attached but clearly a potential buyer cannot repeat a deal at the same levels. Generally, the supply of such modern ships in the market has been limited for some time amid sellers holding back for much better numbers.
Moving on Capes, one notable sale is the MV Ocean Compass (180k/06’blt Japan), which sold in January 2021 at low 17s million, whereas in September the MV Lowlands Erica (176k/07’blt Japan) was sold for about $15m. As it is today, with the lack of many candidates openly in the market for sale and considering all the buying enquiries coupled with many unsolicited indications in attempt to develop private off-market candidates, we would not rule out further increase on prices if the earnings are maintained at the levels we see today. However, considering that the BCI is trading at $12,000/day currently and Panamax Tess 82 index is trading at $15,000/day, we believe that this can’t be maintained for too long and we hope that the CPI will rise and the long anticipated good market will become reality.
By Costas Hardalis,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Planning Commission, India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
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