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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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Thursday, 11 June 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 ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
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- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- White Energy Company Limited
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
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