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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, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has fell US$ ...
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- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- The University of Queensland
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Parliament of New Zealand
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
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