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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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Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- The University of Queensland
- Australian Coal Association
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
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