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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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Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
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Showing 16 to 20 news of total 6846 |
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- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- The University of Queensland
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
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