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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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Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you ...
Saturday, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
After weeks of dropping rates, there are finally some resistance for the Capes. Pacific rounds improving to upper15,000s by the middle ...
Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
...
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- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
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