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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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Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Planning Commission, India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- The University of Queensland
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
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