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Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
 Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sector more or less tracking the market trend. However, since April, this trend appears to be revoked; despite a lackluster tanker freight market, tanker SnP transactions gained pace tracking the bulkers volumes. It is interesting to note, that older tankers units attracted the majority of SnP interest, contrary to bulkers, where the majority of transactions took place for 10Y old units and younger. Record high steel prices are supporting asset values across the board, despite the tanker market underperforming, with owners positioning for a market recovery, while older units are still relatively undervalued.
More specifically, analyzing the S&P activity of both sectors since the beginning of this year we would observe that in January, 63 Dry Bulk deals were recorded. Among these close to 40% (25 units) correspond to Supramax vessels while around 20% (13 units) to Panamax/Kamsarmaxes. Handysize and Capesize vessels hold an equal proportion of around 15% (9 units) each whilst 5 Ultramax and 2 Handymax vessels changed hands. With regard to the age distribution, 11% were around 5Y old, 60% 10Y old and 29% around 15Y and older. With reference to Tanker vessels, 29 units were sold; 12 VLCC, 7 MR, 4 Aframax, 3 Handysize and 3 Suezmax vessels. Close to 35% were aged around 5 yrs old and younger, 7% around 10Y old and close to 58% 15Y old and older.
During February 2021, 64 deals in the Dry Bulk sector were reported. More than one-third of them (24 vessels) corresponded to Supramax vessels, Panamax/Kamsarmax vessels hold nearly 25% (15 units) of the entire activity while Handysize units contributed around 20% (13 units). In addition, 4 Capesize, 3 Post-Panamax, 3 Ultramax and 2 Handymax vessels were sold. Around 75% of the vessels committed were aged around 10Y old. As far as the Wet Sector, 25 vessels changed hands; 8 Suezmax, 7 Aframax, 4 VLCC, 4 MR and 1 Handy Tanker. The 80% of them were aged around 15Y old and older.
In March 2021, 86 Dry Bulk vessels were committed. Panamax/Kamsarmax vessels hold a 30% (26 units) of the entire SnP realm followed by Supramax vessels which hold a proportion of 25% (22 units). Handysize totalled 18 (21%) while Capesize vessels contributed 15% (13 units) of the total SnP activity. Finally, 4 Ultramax and 3 Post-Panamax vessels changed hands. Regarding the age of the above mentioned vessels, 18% were around 5 yrs old and younger, 57% around 10 yrs old whilst the rest 25% around 15 yrs and older. Tanker sales amounted at 37; 15 Aframax, 13 MR, 5 VLCC and 4 Handy Tanker vessels. The 13,5% of the Tanker vessels were aged around 5 yrs old and younger while 40,5% around 10 yrs old and 46% around 15 yrs old and older.
In April 2021, 62 Dry Bulk deals were concluded. Panamax/Kamsarmaxes and Handysize sustained a 30% and around 20% of the entire realm while Supramaxes fell to a proportion of around 18%. Capesize amounted at 11 units (18%) while 8 Ultramax and 1 Post-Panamax changed hands. As far as the age distribution, slightly more than 30% were 5Y old and younger, more that 50% around 10Y old and 15% around 15Y and older. In the Wet market, 58 deals were recorded; 23 Aframax, 14 VLCC, 11 MR, 4 LR1 and 4 Suezmax units. Around 21% of them were aged 5Y old and younger, slightly more that 12% around 10Y old and close to 67% 15Y old and older.
by Nassos Soulakis
SnP Broker
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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Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
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- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Minerals Council of Australia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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