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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.
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Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
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