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Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
 Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to overcome new ones quickly and effectively not only to continue servicing their clients but also in order to move forward. While it is still uncertain if we are still in the Covid-19 era or in the post Covid-19 era, just like in every previous crisis there will be opportunities to be exploited.
Between mid-March and the end of April most countries where either in lock down or had just started coming out of it. As we all know the lockdowns around the globe affected the pace of the different supply chains, which effectively led to reduced volumes of transported cargo. Now that most restrictive measures have started to ease, trade volumes are expected to start picking up and if we also take into account the fact that billions in stimulus packages have been announced by the largest economies, there is a lot of speculation – and great anticipation- that the market will rebound at some point during the remainder of the year.
Some even believe that the momentum will be strong enough to eventually help overcome the challenges that the shipping market was facing prior to the Covid-19 crisis. Additionally, the fact that the presidential US elections are taking place in November means that the uncertainty that was already increasing prior to the lockdowns will eventually have to abate before the end of 2020.
It goes without saying that the effect of any government money poured into any economy will take time until it is truly felt but in terms of boosting sentiment it will help even at earlier stages and before the market starts to move up decisively.
That being said, shipowners should keep a close eye on asset values now and before the market takes off. Volatile times are not for the faint hearted but the reality is that that it is more conservative to invest during a bottoming market instead of buying a vessel when prices have already appreciated, not only because tonnage is priced more realistically but also because the downside in the first instance is much smaller.
Dry bulk asset values have been dropping for the last four months with limited SnP activity during the global quarantine period between mid-March and the end of April when a total of 25 transactions have been reported, exactly half of those that took place during the same period in 2019.
Theory differs from practice many times of course and one could argue that a “wait and see strategy” is a safer investing approach. One can wait as long as she or he desires but there are two facts that nobody can deny; asset prices are low and more cargo will sooner or later start to move. So if you were looking to invest it seems that the timing might be just about right.
By Timos Papadimitriou
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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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Friday, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Parliament of New Zealand
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
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