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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, 06 July 20
INDONESIAN COAL PRICE REFERENCE IN FREE FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 06 July 20
SUPRAMAX: A 58,000-DWT FIXING DELIVERY VIETNAM TRIP VIA INDONESIA RE-DELIVERY WEST INDIA IN THE LOW $4,000S
Capesize
The Capesize market continues to go from strength to strength, as rates reach highs not seen since September last year. The rally is p ...
Thursday, 02 July 20
PRIVATE COAL MINING MAY SEE WEAK INVESTOR SENTIMENT: ICRA - LIVEMINT
The prospects of commercial coal mining in India may be dimmer than initially expected because of the expected shift in India’s energy mix fr ...
Wednesday, 01 July 20
THERMAL COAL OPTIONS TRADING LAUNCHED IN CHINA'S ZHENGZHOU - XINHUA
Thermal coal options started trading on the Zhengzhou Commodity Exchange (ZCE) in central China’s Henan Province Tuesday.
It i ...
Wednesday, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
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- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
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