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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, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
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