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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, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
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