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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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Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
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- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- The University of Queensland
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
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