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Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
 Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to overcome new ones quickly and effectively not only to continue servicing their clients but also in order to move forward. While it is still uncertain if we are still in the Covid-19 era or in the post Covid-19 era, just like in every previous crisis there will be opportunities to be exploited.
Between mid-March and the end of April most countries where either in lock down or had just started coming out of it. As we all know the lockdowns around the globe affected the pace of the different supply chains, which effectively led to reduced volumes of transported cargo. Now that most restrictive measures have started to ease, trade volumes are expected to start picking up and if we also take into account the fact that billions in stimulus packages have been announced by the largest economies, there is a lot of speculation – and great anticipation- that the market will rebound at some point during the remainder of the year.
Some even believe that the momentum will be strong enough to eventually help overcome the challenges that the shipping market was facing prior to the Covid-19 crisis. Additionally, the fact that the presidential US elections are taking place in November means that the uncertainty that was already increasing prior to the lockdowns will eventually have to abate before the end of 2020.
It goes without saying that the effect of any government money poured into any economy will take time until it is truly felt but in terms of boosting sentiment it will help even at earlier stages and before the market starts to move up decisively.
That being said, shipowners should keep a close eye on asset values now and before the market takes off. Volatile times are not for the faint hearted but the reality is that that it is more conservative to invest during a bottoming market instead of buying a vessel when prices have already appreciated, not only because tonnage is priced more realistically but also because the downside in the first instance is much smaller.
Dry bulk asset values have been dropping for the last four months with limited SnP activity during the global quarantine period between mid-March and the end of April when a total of 25 transactions have been reported, exactly half of those that took place during the same period in 2019.
Theory differs from practice many times of course and one could argue that a “wait and see strategy” is a safer investing approach. One can wait as long as she or he desires but there are two facts that nobody can deny; asset prices are low and more cargo will sooner or later start to move. So if you were looking to invest it seems that the timing might be just about right.
By Timos Papadimitriou
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- The University of Queensland
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
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