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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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Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
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- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
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