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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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Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
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- Mjunction Services Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- The University of Queensland
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
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