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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, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- PTC India Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
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