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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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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
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