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Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
 The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the phenomenon will last compared also to the SARS outbreak in 2002. By now it is evident that the spread of the virus has been much more rapid, with more than 40,000 incidents and 1,000 deaths officially reported across 25 countries to date, while these figures are expected to keep going up.
The current situation has affected various businesses and industries around the globe and especially the shipping industry. The outbreak has knocked what was a positive sentiment during the start of the year across all sectors and disturbed the markets worldwide. The markets that are deeply dependent to China’s trade have been heavily affected, while the outbreak came to a period concurrent with the Chinese New Year holidays. The extended period of China’s shutdown has shrunk trade volumes worldwide and freight rates across all sectors have plummeted. It is safe to say that the economic distress will affect the China’s economic growth for the first quarter of 2020 and the annual GDP growth as well.
The central location of Wuhan, where the virus originated, which is strategically located on the Yangtze River, is one of the globe’s busiest waterways. More than two billion tonnes of cargo are transported through ports on the mainstream of the river every year. Likewise, more than 80% of China’s inland marine traffic moves on the Yangtze River, while Wuhan itself handles close to 1.5 mill containers a year. Seven out of the ten container ports are located in China and seems that the container industry will be the first to feel the turmoil from the virus effect.
Through Wuhan thousands of tons of coal, steel and crude oil are supplied. Therefore, any major situation that grounds for prolonged disruption on the supply chain from these regions results to great effects for both China and every shareholder that is in business with China and imports goods from there. Moreover, the factories shutdown has resulted in a slowdown of manufacturing and industrial production. As discussed the intra-Asian container shipping market is the first to feel the effect from the Coronavirus and it is expected that the long-haul trades to North America and Europe will be affected. The extended holidays and emergency measures to tackle the virus are estimated to reduce cargo volumes at Chinese ports including Hong Kong by over 6 million TEUs (20 foot equivalent units) in the first quarter of 2020 and forecast global container throughput growth would fall by at least 0.7% in 2020.
Looking forward, the industry widely believes this dynamic will be short – lived. As it was the case with SARS in the past, the supply chains should hopefully resume, resulting in a demand surge, increased trade volumes and even higher than before the virus outbreak freight rates.
By Stelios Kollintzas
Tanker Chartering 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.
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Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Parliament of New Zealand
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