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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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Thursday, 11 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 ...
Tuesday, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
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- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
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