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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, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
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