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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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Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
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- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- The University of Queensland
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
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