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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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- The University of Queensland
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
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