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Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
 The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a decade. As a result, vessels’ values have improved substantially, whilst demolition activity has stalled over the past two months. Older ships are attracting a lot of SnP interest at levels substantially above their scrap values. On top of this, the dry bulk orderbook continues to hover at low levels, as yards’ slots are filled with orders on other more profitable sectors, namely containers.
China has been the primary driving force behind the market improvement, as steel production has been running at record high levels, while demand for grains has accelerated owing to the better trade relationships with USA and the pig herd recovery from African Swine Fever which previously had a substantial impact in the specific trade.
What is more, commodities demand from the rest of the world is accelerating and intensifying trade inefficiencies in favor of dry bulk trade i.e. international steel prices are at record high levels, West-East steel price arbitrages, industrial output growth globally driving demand for iron ore and coking coal and a projected above average hot summer is seeing Europe and Asia competing for thermal coal. Minor bulks demand is also upbeat and sustains the upward freight trend for the geared dry bulk segment. The commodities price rally is in the meantime incentivizing more production and exports by miners, in order to take advantage of high prices, thus market players expect seaborne volumes to increase further in the coming months.
Increased trade has resulted in port congestion mounting to multi year highs; Port congestion in the Pacific is also supporting the supply side in the short term mainly in the Panamax sector whilst it is expected to have a positive impact on Capesize as well.
The freight market picture has been positively reflected into asset values. It is not though that the larger sizes have shadowed the geared ships, as in comparison geared vessels and Panamax in sequence have so far performed better in proportion to their value than a Capesize. Nonetheless, current FFA levels are supporting a further improvement in the spot market for Capesize during the second half of the year. If the spot market catches up pace with period earnings suggested by FFA levels as market participants anticipate, we should expect SnP interest to increase in the next quarters for the largest size and asset values to appreciate in tandem.
By Vasilis Moiris,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
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