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