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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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Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
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- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- SMC Global Power, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
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