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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, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
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- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
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