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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, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- The University of Queensland
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
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