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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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Thursday, 11 June 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 ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
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- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
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