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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, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
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- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Planning Commission, India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
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