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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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Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
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- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
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