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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.
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Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
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Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
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