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Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
 Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,000 points mark on the 20th of August, a trend which followed an upward trajectory until the 27th of August when it reached 4,235 points. We are reminding you that the last time the dry bulk index exceeded the 4,000 points mark was back in May 2010 when the BDI reached 4209 points.
Such an increase in the dry bulk freight market could not but affect the secondhand prices of bulker units which saw their values improve sharply within a short period of time, a trend which seems that has not yet stabilized; we see last done level of asset values being higher from their previous one.
As a result of the sharp freight market improvement and the significant surge in buying interest, secondhand values have doubled since the beginning of the year. For instance, in early 2021, the price of a 15 year old Japanese Supramax vessel was estimated at around $7.7-8.0 million with the current price indication at above $15.0 million. In line with the Supramax sector, 15 year old Japanese Panamax units were sold at around $10.0-11.0 million back in January 2021 with the current price being negotiated at around $19.0 million.
However, Handysize asset appreciation during 2021 has been the most remarkable one. In recent years, the Handysize values and especially asset prices of the 28kdwt size were under significant pressure while even when the secondhand market enjoyed periods of recovery, price improvement of the Handysize vessels was lagging behind compared to their bigger counterparts. Yet, during 2021, the Handysize secondhand market has been extremely active with an outstanding price rise compared to the previous year values. For example, the price of a 15 year old Japanese 28kdwt Handysize unit during 2020 was estimated at around low $5.0 million while the current price of the same unit is estimated at a price of above $11.0 million.
This upward momentum has also positive affected the prices of the older ships; while interest for such vessels was almost muted, in 2021 we have seen several owners’ negotiating on units built from 1998 up to 2001 which has apparently pushed the price of the respective vessels upward as well. Of course, the price increase of these older units has been also impacted by the scrap prices which reached historical high levels during this year.
The six million dollar question is always how long this trend will last and at what point of the shipping business cycle we are at the moment of writing.
By George Iliopoulos
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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Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- PTC India Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Australian Coal Association
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
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