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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, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
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- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
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