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