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Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
 Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a review of how much the shipping industry has been affected. As it was expected, the Covid-19 has a huge impact not only on the freight market of different sectors but also on the way that the shipping participants operate. It is essential for shipping participants to travel around the world; the prohibition of traveling added an additional burden to the shipping community. We witnessed cases where crews remained on ships beyond their contracts as they could only change in certain ports. We have seen SnP transactions fail due to the fact that the delivery of units was very difficult. Another reason that led to transaction failures was the negative momentum in the freight market; that led owners to withdraw from SnP transactions that they were about to complete in the view of a very negative freight market outlook.
Let us not forget that, as far as the dry sector is concerned, we saw the market being below 600 units from late January to June, with a few exceptions where the BDI posted at the region of 700 points. There was a time when we really did not witness any secondhand transaction while the freight market in the dry bulk sector was at significantly low levels. But, as soon as June kicked off, things changed a lot. The market started to recover with the BDI passing even the 2000 points. We suddenly saw several buyers leaving the sidelines and bid on ships. Many vessels were sold on a waiving inspection basis while their prices increased as the competition increased.
An example of such a price increase was the sale of a Japanese Supramax, 2008 built which was sold for USD 7.8 million back in March, while today, the owners for similar units are asking over USD 9.5 million. Prices for the other sizes followed the same trend with the exception of Handysize vessels; while we are noticing some increases in prices for such units, these improvements have not been as rapid as the market recovery.
As we are coming close to the end of 2020 and we are waiting for the vaccine against coronavirus that will boost the psychology worldwide and the global economy, it will be very interesting to see how the charter market will react. At the moment, there is some ground for optimism, and we hope that the coming year will provide a boost to World Trade and consequently positive fundamentals will arise for the shipping industry.
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, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
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- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
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