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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.
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Wednesday, 20 October 21
CHINA COAL HITS RECORD HIGH AMID TIGHT SUPPLIES - REUTERS
China coal prices hit a record high on Tuesday buoyed by a widening power crunch and cold weather despite Beijing’s efforts to bolster supply ...
Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
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- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- White Energy Company Limited
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
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