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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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- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
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