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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, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
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- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
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