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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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- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
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