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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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Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
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- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- PTC India Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
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