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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, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
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