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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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Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
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- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Anglo American - United Kingdom
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
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