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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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Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
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- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Parliament of New Zealand
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
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