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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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Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
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