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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, 02 September 20
INDONESIA COAL PRICE REFERENCE DIVES FURTHER IN SEPTEMBER DUE TO SUBDUED DEMAND & GLOBAL OVERSUPPLY
Subdued demand & global oversupply pushed down this month's HBA
COALspot.com: The Indonesia Coal Price Reference ...
Tuesday, 01 September 20
WHY INDIA CAN'T MATCH THE GULF REGION'S RECORD-LOW SOLAR TARIFFS - IEEFA
5-10% annual decline in tariffs estimated for the next decade
A number of countries in the Gulf region have set record-low prices for solar in ...
Tuesday, 01 September 20
COVID-19 PUSHES US LNG INTO A TIGHT SPOT - DREWRY
The pandemic-led weak projections for economic growth will derail US LNG exports in full-year 2020 with the country also losing ground in the long ...
Monday, 31 August 20
DEFECTIVE PASSAGE PLANNING: UNSEAWORTHINESS OR A NAVIGATIONAL DECISION? THE CMA CGM LIBRA QUESTION SAILS ON TO THE UK SUPREME COURT - GARD
KNOWLEDGE TO ELEVATE
The UK Supreme Court has granted leave to appeal the recent decision in Alize 1954 v Allianz Elementar Versicherungs AG ( ...
Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
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- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
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