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Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
 Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interest has been driven by upbeat freight rates reaching more than decade highs, combined with assets being undervalued compared to both actual earnings and earnings expectations; Earnings and asset values expectations flared up after the counter seasonal surge in freight rates during Q1, which saw March recording the highest monthly dry SnP figure by historical standards, followed by June, when Panamax and Supramax freight rates hit the highest level since 2010. SnP monthly transactions have decelerated so far into July with the freight market correcting – albeit from multi year high levels - however asset values continue their upward trend. Since June, notable increases in values of more than 7% are observed in Cape and Kasmarmax particularly in the 5-10 Y age bracket. Below we present a short overview of the dry SnP transactions since March broken down by type of vessel.
During March 2021, total S&P transactions increased by approx. 25% compared to February 2021, reaching more than 80 deals. Slightly less than 20 Handysize vessels, marginally more than 25 Supramax/Ultramax bulkers, around 25 Panamax/Kamsarmax vessels and finally more than 10 Capesize/Newcastlemaxes changed hands back then. Supramaxes and Handysize vessels corresponded to almost half of the transactions that formed the total S&P deal landscape.
During April 2021, total SnP deals amounted to around 65, decreasing by approx. 25% vs the previous month. The decrease was driven mainly by Handysize and Supramax vessels and especially the latter that ended up accounting for around half of those committed in March 2021. As for the other segments, Kamsarmax and Capesize vessels maintained similar levels m-o-m while the Ultramax tonnage was the only one that a showed significant increase of around 50% compared to the previous month.
Moving on to May 2021, the total deals increased by around 10 in number of vessels. Handysize and Supramax deals surged by more than 50% m-o-m while the deals across all the other segments decreased significantly.
Regarding June 2021, we can argue that the number of deals did not differ significantly compared to May 2021 with Handysize, Kamsarmax, Post-Panamax and Capesize following a similar pattern m-o-m. However, Panamax and Ultramax bulkers that changed hands significantly increased tracking the freight market momentum and the number of Supramax decreased by approx. 70% m-o-m.
As far as the current month, the total transactions that have taken place so far in July amount to approx. 40. At the current pace, it looks like the full monthly figure will end up significantly below the monthly average deals recorded so far in 2021, driven mainly by Handysize and Panamax transactions slowing down. It remains to be seen, whether SnP volumes for the larger dry bulk segment will start catching up to the smaller ones, given constructive market expectations for Capesize in the next months.
By George Kallianiotis,
Valuation Department
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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Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
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Showing 721 to 725 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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