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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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Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
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