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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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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
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