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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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Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
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- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- The University of Queensland
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Planning Commission, India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
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