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