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