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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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Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- The University of Queensland
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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