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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.
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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
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