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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
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