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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.
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Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
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- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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