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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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Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
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- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
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