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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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Wednesday, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- White Energy Company Limited
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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