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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Interocean Group of Companies - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Bhushan Steel Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
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