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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.
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Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
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