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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Minerals Council of Australia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
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