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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, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- White Energy Company Limited
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