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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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Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
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- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- VISA Power Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
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