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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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Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
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- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
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