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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
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