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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, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- White Energy Company Limited
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- The University of Queensland
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
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