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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, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Australian Coal Association
- PTC India Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
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