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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, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
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- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Trasteel International SA, Italy
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