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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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- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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