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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, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
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- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Planning Commission, India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
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