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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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Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
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