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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. Over the last week, prevailing buying interest in the wet sector continued to grow with the spotlight being on modern MRs and vintage VLCCs. A total of 8 deals were reported in the MR segment, the vast majority of which were built in South Korea and were less than 5 years old up to Resales, while a couple of them were built in Japanese yards aging around 10 and 20 years, respectively. In the VLCC segment more than a handful of S&P transactions were recorded with most of them being built in South Korean yards and more than half fitted with scrubbers while the whole S&P realm consisted of vessels aged above15 years.
In the NB market, with regards to the VLCC segment, during Q12021, around 25 orders were placed whilst all of them were in Korean shipyards, the highest figure since Q2-2015 when circa 30 vessels were ordered, but VLCC earnings were hovering above $40k/day vs the current negative BDTI TCE for VLCCs. The closest Q1 contracting levels were seen during the first quarters of 2014, 2015 & 2019 when around 15-20 orders were placed. Compared to Q12020, the figure is around 4 times higher while it represents around 60.0% of the total annual placed orders during 2020. For reference the VLCC current orderbook accounts of approx. 96 vessels.
VLCC orders placed during 2021 up to date, were contracted for account of Greek, Korean, Malaysian and US based buyers, with Greeks holding a proportion slightly less than half of the total. Out of the 8 different parties that put these orders, 3 of them having recently sold their vintage tonnage are aiming for a fleet renewal while a couple of them are aiming at expanding their fleet. What is more, the rest 3 parties with an orderbook corresponding to around 9 vessels are newcomers into this segment. Although owners of such tonnage are struggling to confront the current low rates, their choice either in expanding/renewing their fleet or even entering this segment, is in fact a vote of confidence to the crude oil market and proves their high expectations.
As for the other crude oil segments, new contracts have been relatively subdued compared to VLCCs and have come below the past 5 year average during Q1s. Regarding the MR segment, around 18 units were contracted, being the highest Q1 contracting figure since Q12014, when approx. the same number of orders was placed.
Overall, as owners maintain a positive sentiment regarding the wet market and combined with an aging fleet, this tendency has led to an increased number of n/b orders by historical standards vs where the actual market stands, especially in the VLCC segment. However, tankers supply dynamics still look favorable over the next two years, as total orderbook as a % of the fleet continues to start at multiyear lows, with VLCCs orders below 10% of the fleet in dwt terms and below 9.0% for the rest of the crude segments.
By Mohamed Rabie,
Research Analyst
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 ...
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 ...
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 ...
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- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
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