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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, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- The Treasury - Australian Government
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
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