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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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Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
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