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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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- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
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