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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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Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
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