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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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Tuesday, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
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- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
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- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
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