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