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