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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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Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 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 ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
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