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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, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
Wednesday, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnes ...
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Showing 1101 to 1105 news of total 6871 |
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- Posco Energy - South Korea
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
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