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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, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
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- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
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