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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, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
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- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Australian Coal Association
- Planning Commission, India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
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