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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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Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
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- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Planning Commission, India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
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