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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, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- White Energy Company Limited
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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