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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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Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
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- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
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