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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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Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Planning Commission, India
- PTC India Limited - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
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