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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, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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