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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, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
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- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
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- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
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