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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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Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
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Showing 366 to 370 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
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