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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, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
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