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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, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Rio Tinto Coal - Australia
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