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