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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.
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Friday, 10 July 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 ...
Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Latin American Coal - Colombia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
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