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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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Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
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- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Posco Energy - South Korea
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- VISA Power Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
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