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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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Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
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