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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, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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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- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- The University of Queensland
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
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