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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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Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
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- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- The University of Queensland
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- PTC India Limited - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
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