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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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Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- The Treasury - Australian Government
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
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