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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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
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