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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Central Electricity Authority - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Planning Commission, India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
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