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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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Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
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