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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, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
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