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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, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Planning Commission, India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
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