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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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- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Parliament of New Zealand
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
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