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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, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
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