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