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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, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
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- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
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