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