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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, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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