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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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Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
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Showing 36 to 40 news of total 6846 |
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- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Planning Commission, India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
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