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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
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