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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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Tuesday, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
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- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
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