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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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Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
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 ...
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- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
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