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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, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Minerals Council of Australia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Anglo American - United Kingdom
- Australian Coal Association
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
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