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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, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
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- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- White Energy Company Limited
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
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