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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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Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
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- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
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