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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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Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
Thursday, 16 April 20
MARKET INSIGHT - INTERMODAL
As everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch the reaction of tanker rates that were in ...
Monday, 13 April 20
SUPRAMAX: A 56,000DWT SHIP WAS FIXED DELIVERY PARADIP, REDELIVERY CHINA, AT $4,700 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Saturday, 11 April 20
FAQ: COVID-19 AND CLUB COVER - UK P&I
KNOWLEDGE TO ELEVATE
The Coronavirus (COVID-19) pandemic has generated a significant number of enquiries and questions from Members in recent ...
Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,500,000-1,620,000 Metric Tons (M ...
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Showing 1016 to 1020 news of total 6871 |
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- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
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