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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, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
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