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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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Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
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- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- PTC India Limited - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Australian Coal Association
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
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