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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, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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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- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Australian Coal Association
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
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