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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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Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
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- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- PTC India Limited - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
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