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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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Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- The University of Queensland
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
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