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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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Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
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- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Planning Commission, India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
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