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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, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
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- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
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