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