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Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
 During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear impact on the SnP market. The period in which Covid-19 prevailed in both Asia and Europe has brought many changes and created great insecurity to shipowners, a feeling that has not totally disappeared as there is always the fear of a new potential lockdown. However, market dynamics during the last month attracted the interest of many investors, an interest that had moved to the side-lines for many months amidst the low freight rates and the technical issues in inspecting and delivering vessels.
As a result, secondhand sales in the last month increased greatly, compared to the March-April period while the Dry bulk candidates draw most of buyer’s attention. Consequently, this had an upward impact on asset values and mainly on bigger sizes such as Panamax and Capesize vessels, a consequence not limited to the higher freight rates but also due to the fact that many buyers rushed to buy secondhand ships. In contrast to the rest of the sizes, the Handysize secondhand activity did not support such a rise on vessel values despite the fact that many sales took place.
An interesting fact regarding the SnP market is that during this crisis, the most affected prices were those of Handsizes. We have witnessed 10 years old ships more than 30k dwt being sold for approximately 5.5 million and similar Japanese ships with both SS and DD passed being sold for about USD 7 million. Also impressive was the deal in the Handysize sector, which happened recently, where Nisshin Shipping sold two Japanese 38k dwt vessels built in 2014 for USD 12.5 million; evidence that the Handysize prices didn't follow the same trend of the other sizes.
On the other hand, In the Supramax sector, owner of a Japanese 15 years old vessel in early-mid June was aiming at low USD 6 million while the same vessel today, is trading at low USD 7 million, an increase of 15-20% on its asset value.
It is worth mentioning that although we saw vessels staying spot or even mooring for days during the first quarter of 2020, almost a similar situation to 2016, prices did not retreat at the same levels. This indicates that the shipowners did not follow the similar trends as of during 2016, where Japanese 15-years old Supramaxes and 10 years old Panamaxes have been sold at 3-3.5 million and 6 million respectively.
Let us hope that the sentiment will maintain its upward momentum and we will finally see a better market ahead.
By George Iliopoulos
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.
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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
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