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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, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
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- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
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