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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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Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
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- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
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