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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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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Planning Commission, India
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