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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Economic Council, Georgia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
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