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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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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
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