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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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Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Central Electricity Authority - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
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