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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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Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
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