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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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Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- The University of Queensland
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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