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