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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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Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
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- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- The Treasury - Australian Government
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
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