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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, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Planning Commission, India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
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