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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- PTC India Limited - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Central Electricity Authority - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
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