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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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Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
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- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Eastern Coal Council - USA
- The University of Queensland
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
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