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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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Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
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- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
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