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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, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
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