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Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
 24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
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Cape 5TC daily average @ 51,472
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Kamsarmax 82 daily average @ 34,615
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Supramax 58 daily average @ 36,774
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Handysize 38 daily average @ 33,981
If at the beginning of the year 2021, around the period of Chinese Lunar Year, anyone would have predicted that by the middle of August during the peak of Northern Hemisphere summer, the market would have reached the above levels, everybody would laugh.
By the 4th of February 2021, the sub-Cape market had already spiked; the Panamax index was at 1,629 points and Supramax index at 1,139 points, with the first quarter of 2021 averaging well above Q42020 levels. The Capesize 5TC index averaged $17,054/day down -1.0% compared to Q42020, while the Panamax Tess 82 5TC index averaged $18,201 up +51.0% during the same period. Everyone at that time was surprised with the counter seasonal market rise driven by the smaller sizes, as well as the rise in asset values compared to September 2020 and commented that ships had gotten too expensive. Well, what can we say about the prices of today then?
In September 2020 a Panamax bc blt 2006 MV ELENA II with surveys due in q1 2021 had been concluded at low 8s. For comparison, in February MV AJAX got usd low 10s with surveys due promptly. As of the end of July, the 2007 blt MV CANEA got sold at rgn usd 17.7m.
We see similar asset value increases also in 2012 blt units with MV CORAL AMBER 78k dwt BWTS fttd getting mid-high 14s in December and sister ship CORAL AMETHYST without BWTS getting as usd 16/low 16s by the end of January. As of end of June, an exact sister ship 2013blt MV KAGARA got sold at usd 22m and a 2014blt MV ORIENT GENESIS at 23m. Today these 2 ships would expect to get more.
For younger tonnage with an electronic engine built in Japan, we have not seen much activity, last concluded sale being in May, MV IOANNA L built 2017 Tsunesishi Zhoushan at about 29m, but clearly at same levels a potential buyer cannot do repeat deal and generally the supply of such modern ships in the market has been limited for some time amid sellers holding for much better numbers and/or taking advantage of the lucrative daily earnings.
Even for the older units of about 20 years of age, owners now asking levels of about usd 12m or more for 2000/2001blt vessels. The calculations shipowners are making on such vessels is quite simple: They factor in how much the ship will earn basis today’s rates for one year i.e. about USD 7,5m then they add on top the demo value, about USD 5m. So the price comes in excess of USD12m. Similar asset value levels were observed in mid-2010, however it could also be a De Ja Vu of the year 2004, at the beginning of the previous boom, when 20 years old Panamaxes were fetching similar prices.
Let’s see how long the current boom will last. We all hope that It will last for long.
By Costas Hardalis,
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.
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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
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