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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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Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
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