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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
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