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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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Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
Wednesday, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the st ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
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- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
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