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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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Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Deloitte Consulting - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- India Bulls Power Limited - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
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