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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, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- The University of Queensland
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
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