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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, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- White Energy Company Limited
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
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