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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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Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
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