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