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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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Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
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