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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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Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
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- Sojitz Corporation - Japan
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- The University of Queensland
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
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