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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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Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
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- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
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