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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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Saturday, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
After weeks of dropping rates, there are finally some resistance for the Capes. Pacific rounds improving to upper15,000s by the middle ...
Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
...
Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
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- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
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