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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, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- White Energy Company Limited
- Independent Power Producers Association of India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- The University of Queensland
- GMR Energy Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
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