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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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Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
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- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
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