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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, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
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