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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, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
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