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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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Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
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- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- The University of Queensland
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
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