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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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Monday, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
Monday, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global ec ...
Friday, 18 December 20
AUSTRALIA PM WARNS OF ‘LOSE-LOSE’ IN ANY CHINA COAL SHIFT - REUTERS
Australian Prime Minister Scott Morrison said any shift by China away from importing high quality Australian coal would be a “lose-lose&rdquo ...
Friday, 18 December 20
BIG OIL AND COAL EXPORTERS FACE RECKONING AS PARIS AGREEMENT TURNS FIVE - CNA
On Dec 12, more than 70 global leaders came together at the UN’s Climate Ambition Summit, marking the fifth anniversary of the Paris Agreemen ...
Friday, 18 December 20
SOUTH AFRICAN COAL EXPORTERS LARGELY DEPENDENT ON THE ASIAN MARKETS - BANCHERO COSTA
South Africa is the fourth largest exporter of coal in the world, after Australia, Indonesia and Russia. In calendar 2019 the country exported a to ...
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- Oldendorff Carriers - Singapore
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- Trasteel International SA, Italy
- Vedanta Resources Plc - India
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- Sojitz Corporation - Japan
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- White Energy Company Limited
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- Toyota Tsusho Corporation, Japan
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- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
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- Chamber of Mines of South Africa
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- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
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- Tata Chemicals Ltd - India
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- The State Trading Corporation of India Ltd
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- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
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- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
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- Bhatia International Limited - India
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- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
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- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
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- San Jose City I Power Corp, Philippines
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- India Bulls Power Limited - India
- Medco Energi Mining Internasional
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- PTC India Limited - India
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- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
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