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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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Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Australian Coal Association
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
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