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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, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
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- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
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