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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, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
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