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