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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
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- Heidelberg Cement - Germany
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- Renaissance Capital - South Africa
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- Rio Tinto Coal - Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
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- Eastern Coal Council - USA
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- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
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- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Australian Coal Association
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
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