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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, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
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- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Romanian Commodities Exchange
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
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