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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, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
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