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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, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
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- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
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