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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, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
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- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- PTC India Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Planning Commission, India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
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