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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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Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
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- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
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