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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
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Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO 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, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
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