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Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
 Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a few things about the SnP market behavior.
Interestingly, the dry secondhand market remained hot amid the holidays, with Handysize and Supramax sectors attracting the majority of buyers’ interest. Handysize in particular, have rebounded strongly both interest wise and asset value wise compared to past two years. In more than few cases, we have seen owners traditionally active in other asset classes turning their interest towards Handysize purchases.
Another sign of the shift in market dynamics is that we have been hearing more often about off market deals at firm levels; some buyers prefer to pay a premium either in order to avoid competition or because they believe that this premium will turn out to be the immediate asset value upside on the next day.
What is also impressive is that asset values of older vessels have increased at a faster pace and the differential to scrap value has widened since the beginning of the year. At the end of 2020, 20 year old vessels of any size were getting offers from buyers on a scrap value basis plus a small premium. For comparison, three months later we are seeing Panamax unit built in 2001 with SS / DD surveys passed and BWTS installed to fetch above USD 9.0 million - levels last seen for 20 year old Panamax units back in 2011 - surpassing the 2017/2018 momentum, when the market was on an upward trend and China had raised the floor with the CCS approval requirements. Naturally, asset values for older vessels have been further supported by the increase in scrap prices at multi year highs above $480/ldt over the past two weeks, after briefly retreating at $420/ldt earlier in February.
Looking into the tanker sector, we could say that secondhand interest has also started to increase over the past couple of weeks across all sizes. Of note is that a 10Y old LR2 attracted interest by 15 buyers inspecting it, with the majority being Greeks. We also saw increased buying interest on very modern MRs and 2 resale MRs built in China, being bought by European owners at 31.5 million. Could this be a precursor that the market has found its bottom and expectations start to turn positive? While the Suez Canal blockage certainly aided in lifting sentiment by providing a short freight boost to certain tanker segments, the outlook is expected to start improving fundamentally later in 2021, when refineries are expected to ramp up processing rates, following the destocking of oil products over the past several months.
By George Iliopoulos,
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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Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
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- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
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