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Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
 Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a review of how much the shipping industry has been affected. As it was expected, the Covid-19 has a huge impact not only on the freight market of different sectors but also on the way that the shipping participants operate. It is essential for shipping participants to travel around the world; the prohibition of traveling added an additional burden to the shipping community. We witnessed cases where crews remained on ships beyond their contracts as they could only change in certain ports. We have seen SnP transactions fail due to the fact that the delivery of units was very difficult. Another reason that led to transaction failures was the negative momentum in the freight market; that led owners to withdraw from SnP transactions that they were about to complete in the view of a very negative freight market outlook.
Let us not forget that, as far as the dry sector is concerned, we saw the market being below 600 units from late January to June, with a few exceptions where the BDI posted at the region of 700 points. There was a time when we really did not witness any secondhand transaction while the freight market in the dry bulk sector was at significantly low levels. But, as soon as June kicked off, things changed a lot. The market started to recover with the BDI passing even the 2000 points. We suddenly saw several buyers leaving the sidelines and bid on ships. Many vessels were sold on a waiving inspection basis while their prices increased as the competition increased.
An example of such a price increase was the sale of a Japanese Supramax, 2008 built which was sold for USD 7.8 million back in March, while today, the owners for similar units are asking over USD 9.5 million. Prices for the other sizes followed the same trend with the exception of Handysize vessels; while we are noticing some increases in prices for such units, these improvements have not been as rapid as the market recovery.
As we are coming close to the end of 2020 and we are waiting for the vaccine against coronavirus that will boost the psychology worldwide and the global economy, it will be very interesting to see how the charter market will react. At the moment, there is some ground for optimism, and we hope that the coming year will provide a boost to World Trade and consequently positive fundamentals will arise for the shipping industry.
By George Iliopoulos
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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Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
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- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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