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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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Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
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