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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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Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
Wednesday, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
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- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Minerals Council of Australia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- PTC India Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
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