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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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Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- The University of Queensland
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Planning Commission, India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
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