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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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Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
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- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- White Energy Company Limited
- Australian Coal Association
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
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