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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
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