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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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- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
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