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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, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
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