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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
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