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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, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- MS Steel International - UAE
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
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