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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, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
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- Ministry of Mines - Canada
- Economic Council, Georgia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
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