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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, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
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