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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO 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, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Australian Coal Association
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
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