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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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Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 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 ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Australian Coal Association
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Parliament of New Zealand
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