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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, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade.
Total global loadings in the 12 months of 2020 were down -12 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
Wednesday, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
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- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
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- CNBM International Corporation - China
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- The Treasury - Australian Government
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- Economic Council, Georgia
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- The University of Queensland
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- Vedanta Resources Plc - India
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- Marubeni Corporation - India
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- Heidelberg Cement - Germany
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- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
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- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
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- Antam Resourcindo - Indonesia
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- Parliament of New Zealand
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- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
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- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Malabar Cements Ltd - India
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- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
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- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
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- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
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- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
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- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
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