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