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