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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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Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
Monday, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
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- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- The University of Queensland
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
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