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Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
 Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a review of how much the shipping industry has been affected. As it was expected, the Covid-19 has a huge impact not only on the freight market of different sectors but also on the way that the shipping participants operate. It is essential for shipping participants to travel around the world; the prohibition of traveling added an additional burden to the shipping community. We witnessed cases where crews remained on ships beyond their contracts as they could only change in certain ports. We have seen SnP transactions fail due to the fact that the delivery of units was very difficult. Another reason that led to transaction failures was the negative momentum in the freight market; that led owners to withdraw from SnP transactions that they were about to complete in the view of a very negative freight market outlook.
Let us not forget that, as far as the dry sector is concerned, we saw the market being below 600 units from late January to June, with a few exceptions where the BDI posted at the region of 700 points. There was a time when we really did not witness any secondhand transaction while the freight market in the dry bulk sector was at significantly low levels. But, as soon as June kicked off, things changed a lot. The market started to recover with the BDI passing even the 2000 points. We suddenly saw several buyers leaving the sidelines and bid on ships. Many vessels were sold on a waiving inspection basis while their prices increased as the competition increased.
An example of such a price increase was the sale of a Japanese Supramax, 2008 built which was sold for USD 7.8 million back in March, while today, the owners for similar units are asking over USD 9.5 million. Prices for the other sizes followed the same trend with the exception of Handysize vessels; while we are noticing some increases in prices for such units, these improvements have not been as rapid as the market recovery.
As we are coming close to the end of 2020 and we are waiting for the vaccine against coronavirus that will boost the psychology worldwide and the global economy, it will be very interesting to see how the charter market will react. At the moment, there is some ground for optimism, and we hope that the coming year will provide a boost to World Trade and consequently positive fundamentals will arise for the shipping industry.
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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Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Deloitte Consulting - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
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