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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, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- White Energy Company Limited
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
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