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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, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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Showing 1106 to 1110 news of total 6871 |
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- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Agrawal Coal Company - India
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