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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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Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Economic Council, Georgia
- The University of Queensland
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
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