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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, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
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- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
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