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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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Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
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- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
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