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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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Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
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- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
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