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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Bhatia International Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
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