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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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Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
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- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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