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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.
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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- The University of Queensland
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Minerals Council of Australia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
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