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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, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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