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