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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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- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Posco Energy - South Korea
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
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