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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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Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
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- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
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