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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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Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you ...
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- Eastern Energy - Thailand
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- Larsen & Toubro Limited - India
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- India Bulls Power Limited - India
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- New Zealand Coal & Carbon
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- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
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- Eastern Coal Council - USA
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- Power Finance Corporation Ltd., India
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- Ministry of Mines - Canada
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- Bhoruka Overseas - Indonesia
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- Merrill Lynch Commodities Europe
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- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
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- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
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- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
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- Central Electricity Authority - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
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- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
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- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
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- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
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- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
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- GMR Energy Limited - India
- Borneo Indobara - Indonesia
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- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
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