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Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
 Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy weren’t enough to prepare us for what we would face. While strict measures are taken around the world in order to limit the spread of the virus, it is also crucial that each of us individually takes every precaution so that we can effectively face this invisible enemy. In light of this enemy, stock markets, trade and every business activity as we come to know it, have all started to collapse, affecting even more the global economy to new lows.
The shipping industry was inevitably affected as well. In the dry bulk market we have been experiencing a bad period since Q4 of 2019. The seasonal slowdown that started since Christmas and extended up to the end of the Chinese New Year along with the IMO regulations left no room for a strong Q1 in 2020. Initially, the virus outbreak reduced the trade and rates in the Far East. The collapse of the Capesize market was so severe though, that on 31st of January the index turned negative. BCI levels remained negative, reaching -355 points on 12/03/2020. The rest of the dry bulk indices kept facing pressure, while the BDI showed resistance just over the 400 point in the beginning of February.
Two weeks ago, the injection of fresh cargoes in the Atlantic coupled with a reported slowdown in new Covid-19 cases out of China resulted in a shy improvement of sentiment. Up until then, SnP activity followed a similar pattern and gave us glimpses of hope. The low indices reminded us a lot the period Q4 2015-Q1 2016. Asset values also began to decline, but by no means to the same extend they did in 2016.
Many buyers, especially in the Middle East and the West started to show interest for ships built 2005 onwards. Since the beginning of March we have also seen Far Eastern buyers showing interest for vintage Handysize loggers, Supramax and Panamax vessels with the majority of these buyers being Chinese. The quarantine regulations in some airports and ports worldwide led to huge difficulties for owners that wanted to arrange pre-purchase inspections, while delays were also observed in taking delivery of vessels. Naturally, many prospective buyers changed their mind and decided to wait until after there is more clarity regarding the current situation.
The last days’ events have significantly frozen buying interest since the negative sentiment widened and partly confirmed fears of further market declines and falling asset prices. Under the current circumstances, it seems that new buying opportunities will arise. Buyers still clearly have the upper hand since the supply of secondhand vessels is steadily higher and freight rates still shaky.
Despite the difficulties that every person encounters, we all have to keep moving forward. My wish to everyone is to remain strong and supportive towards their loved ones and we will come out of this much stronger. I would like to finish with one quote; “When it is dark enough, you can see the stars”, Charles A. Beard.
By Konstantinos Kontomichis
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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- MS Steel International - UAE
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
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