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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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- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
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