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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 $11.0 million.
This upward momentum has also positive affected the prices of the older ships; while interest for such vessels was almost muted, in 2021 we have seen several owners’ negotiating on units built from 1998 up to 2001 which has apparently pushed the price of the respective vessels upward as well. Of course, the price increase of these older units has been also impacted by the scrap prices which reached historical high levels during this year.
The six million dollar question is always how long this trend will last and at what point of the shipping business cycle we are at the moment of writing.
By George Iliopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
Wednesday, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
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- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
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