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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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Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Planning Commission, India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
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