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