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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
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