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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, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
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- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Australian Coal Association
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- PTC India Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
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