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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Planning Commission, India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- The University of Queensland
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
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