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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, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
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- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
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