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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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Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
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Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- The University of Queensland
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
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