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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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Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
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- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Thai Mozambique Logistica
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