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Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
 Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At the time of writing the vessel has been refloated allowing the traffic to resume, albeit the lineup of congestion built up significantly since the incident and may take days to resume to normal levels. More than 450 vessels of all types were waiting at the peak of congestion on either side of the canal to pass, while there were reported cases of ships ordered to deviate through the Cape of Good Hope.
The sectors impacted the most from this situation are those of tankers and containers.
We immediately saw an increase in tanker freight rates on routes which are directly related to the Suez Canal passage, with the increase in some cases being over 80.0% since the accident in 23rd March. The impact was immediate on Suezmax, with Aframax following, while the impact on LR2 and LR1s clean related trades could spill over into the next month, despite the situation being resolved.
The container sector has also been impacted as despite the refloating it is expected that it will take days for the backlog of vessels to pass the canal, while with the containers supply chain already strained, congestion at discharging ports could drive container freight rates back up after their recent easing from close to record high levels.
The impact in the dry bulk sector was expected to be lesser, however certain trades were at “risk”. More specifically mainly grain and iron ore trades out of Black Sea and USA/North Atlantic to the Far East are passing through the canal. More than 95 bulkers were waiting at the canal at the peak of the crisis and despite the fact that we didn’t see an immediate impact on freight, increased congestion when they discharge East might prompt an increase in rates later on.
Even one week of blockage has had an impact in commodities trading, adding to the ton miles through the deviation of Cape of Good Hope for those vessels that decided to do so. Supply chain disruptions via delivery delays and increased congestion at discharging ports at a 2nd stage are expected to extend well beyond the next week. Finally, it is worth noting that such incident might put back into focus the importance of economies of scale of the larger vessel classes, particularly in an increased bunkers consumption context that might be triggered and the relevant asset value differences revisited.
By Vasilis Moiris,
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
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