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