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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Parliament of New Zealand
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
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