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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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Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- The University of Queensland
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
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