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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, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
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- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
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