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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, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Economic Council, Georgia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- PTC India Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
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