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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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Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
Friday, 06 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- The University of Queensland
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
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