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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, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
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