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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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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
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