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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, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Antam Resourcindo - Indonesia
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