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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, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
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