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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 impact on the SnP market. The period in which Covid-19 prevailed in both Asia and Europe has brought many changes and created great insecurity to shipowners, a feeling that has not totally disappeared as there is always the fear of a new potential lockdown. However, market dynamics during the last month attracted the interest of many investors, an interest that had moved to the side-lines for many months amidst the low freight rates and the technical issues in inspecting and delivering vessels.
As a result, secondhand sales in the last month increased greatly, compared to the March-April period while the Dry bulk candidates draw most of buyer’s attention. Consequently, this had an upward impact on asset values and mainly on bigger sizes such as Panamax and Capesize vessels, a consequence not limited to the higher freight rates but also due to the fact that many buyers rushed to buy secondhand ships. In contrast to the rest of the sizes, the Handysize secondhand activity did not support such a rise on vessel values despite the fact that many sales took place.
An interesting fact regarding the SnP market is that during this crisis, the most affected prices were those of Handsizes. We have witnessed 10 years old ships more than 30k dwt being sold for approximately 5.5 million and similar Japanese ships with both SS and DD passed being sold for about USD 7 million. Also impressive was the deal in the Handysize sector, which happened recently, where Nisshin Shipping sold two Japanese 38k dwt vessels built in 2014 for USD 12.5 million; evidence that the Handysize prices didn't follow the same trend of the other sizes.
On the other hand, In the Supramax sector, owner of a Japanese 15 years old vessel in early-mid June was aiming at low USD 6 million while the same vessel today, is trading at low USD 7 million, an increase of 15-20% on its asset value.
It is worth mentioning that although we saw vessels staying spot or even mooring for days during the first quarter of 2020, almost a similar situation to 2016, prices did not retreat at the same levels. This indicates that the shipowners did not follow the similar trends as of during 2016, where Japanese 15-years old Supramaxes and 10 years old Panamaxes have been sold at 3-3.5 million and 6 million respectively.
Let us hope that the sentiment will maintain its upward momentum and we will finally see a better market ahead.
By George Iliopoulos
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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Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
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- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Australian Coal Association
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
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