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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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Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
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- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- The University of Queensland
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