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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, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
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