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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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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
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- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- India Bulls Power Limited - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
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