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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- GMR Energy Limited - India
- The University of Queensland
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
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