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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, 03 February 21
MARKET INSIGHT - INTERMODAL
"2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbre ...
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
KNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industrie ...
Monday, 01 February 21
A 56,000-DWT OPEN MANILA WAS FIXED FOR A TRIP VIA INDONESIA REDELIVERY CHINA AT $11,500 - THE BALTIC BRIEFING
Capesize
The Capesize routes endured a week of slippage on rates, bringing the market back down to levels seen at the beginning of the month. D ...
Monday, 01 February 21
PAKISTAN: COAL DEMAND EXPECTED TO SPIKE IN 2021 - DAWN
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
Acco ...
Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
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- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Australian Coal Association
- Latin American Coal - Colombia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
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