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Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
 As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitarian concern and unavoidably a concern about the course of the world economic growth. Our European neighbor, Italy, has been taking extremely strict measures in order to deal with the epidemic that went out of control quickly in the country and has already shaped the daily life there with cinematic scenes taking place as people tried to stock both on food and medical supplies in fear of a future shortage of such products.
Financial markets around the world have been also getting a lot of pressure, while the impact on the shipping industry has been substantial so far as well, a development expected given the many ways shipping is interlinked with China and therefore affected by what goes around there.
Despite the extended problems in China we have been recently noticing slightly increased activity in shipyards. Indeed, contrary to the previous weeks during which most local yards were closed and many ships could not complete their dry-dockings, slowly but steadily operations have been resuming despite the reduced personnel. Another sign of the gradual return to normality is the improved SnP activity as far as Chinese owners are concerned. After muted buying appetite due to the Chinese New Year and the outbreak of the virus, it seems that even while many of them are still restricted at their homes, Chinese owners have started getting their hands on dry bulk candidates again.
What is fairly interesting even at this stage is the extent to which the shipping industry as well as global markets in general will recover once the epidemic is contained. We have seen in the past that after the spread of a virus, a strong rebound follows, which was also the case following the containment of the SARS and Zika viruses. Many believe that after the relaxation of the strict measures that coincided with the end of the Chinese New Year, we will see a fast rebound of the market. This would also explain why among others, Greek and Chinese owners are particularly active nowadays. Indeed, during February, which was an extremely bad month for the shipping market due to the above mentioned reasons, we saw more than 45 vessels (Handysize up to Capesize) changing hands.
Another notable point that is related to the activity in the second-hand dry bulk market of the past couple of months is that asset values during this environment of exceptionally - in some cases – low freight rates have not declined as much as someone would expect and compared to previous times that the market had gone through similar shocks. This is not to say that we haven’t seen discounts compared to the end of last year but there was certainly no collapse. Surprisingly enough it was Handysize values that seemed to have received the biggest discounts despite the fact that rates for the size showed the most resistance during these very bad months and that during previous market downturns this was the size that saw less pressure in terms of asset prices.
By George Iliopoulos
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.
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Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
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- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
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