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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
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