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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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Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
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