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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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Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
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- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
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