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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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Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
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- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
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