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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, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
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Showing 721 to 725 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
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