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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, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
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- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
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