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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, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
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- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
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