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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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- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- The University of Queensland
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Minerals Council of Australia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
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