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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 $11.0 million.
This upward momentum has also positive affected the prices of the older ships; while interest for such vessels was almost muted, in 2021 we have seen several owners’ negotiating on units built from 1998 up to 2001 which has apparently pushed the price of the respective vessels upward as well. Of course, the price increase of these older units has been also impacted by the scrap prices which reached historical high levels during this year.
The six million dollar question is always how long this trend will last and at what point of the shipping business cycle we are at the moment of writing.
By George Iliopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- The University of Queensland
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
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