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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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Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
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- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
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