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