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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, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
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- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
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