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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, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
Wednesday, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
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- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
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- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- White Energy Company Limited
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
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