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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.
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Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Planning Commission, India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
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