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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.
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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Wednesday, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- The University of Queensland
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Australian Coal Association
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Economic Council, Georgia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
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