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