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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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Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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