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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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Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
Thursday, 04 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 ...
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- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
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