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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, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
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- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
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