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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.
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Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
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- Central Electricity Authority - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
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