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Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
 Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy weren’t enough to prepare us for what we would face. While strict measures are taken around the world in order to limit the spread of the virus, it is also crucial that each of us individually takes every precaution so that we can effectively face this invisible enemy. In light of this enemy, stock markets, trade and every business activity as we come to know it, have all started to collapse, affecting even more the global economy to new lows.
The shipping industry was inevitably affected as well. In the dry bulk market we have been experiencing a bad period since Q4 of 2019. The seasonal slowdown that started since Christmas and extended up to the end of the Chinese New Year along with the IMO regulations left no room for a strong Q1 in 2020. Initially, the virus outbreak reduced the trade and rates in the Far East. The collapse of the Capesize market was so severe though, that on 31st of January the index turned negative. BCI levels remained negative, reaching -355 points on 12/03/2020. The rest of the dry bulk indices kept facing pressure, while the BDI showed resistance just over the 400 point in the beginning of February.
Two weeks ago, the injection of fresh cargoes in the Atlantic coupled with a reported slowdown in new Covid-19 cases out of China resulted in a shy improvement of sentiment. Up until then, SnP activity followed a similar pattern and gave us glimpses of hope. The low indices reminded us a lot the period Q4 2015-Q1 2016. Asset values also began to decline, but by no means to the same extend they did in 2016.
Many buyers, especially in the Middle East and the West started to show interest for ships built 2005 onwards. Since the beginning of March we have also seen Far Eastern buyers showing interest for vintage Handysize loggers, Supramax and Panamax vessels with the majority of these buyers being Chinese. The quarantine regulations in some airports and ports worldwide led to huge difficulties for owners that wanted to arrange pre-purchase inspections, while delays were also observed in taking delivery of vessels. Naturally, many prospective buyers changed their mind and decided to wait until after there is more clarity regarding the current situation.
The last days’ events have significantly frozen buying interest since the negative sentiment widened and partly confirmed fears of further market declines and falling asset prices. Under the current circumstances, it seems that new buying opportunities will arise. Buyers still clearly have the upper hand since the supply of secondhand vessels is steadily higher and freight rates still shaky.
Despite the difficulties that every person encounters, we all have to keep moving forward. My wish to everyone is to remain strong and supportive towards their loved ones and we will come out of this much stronger. I would like to finish with one quote; “When it is dark enough, you can see the stars”, Charles A. Beard.
By Konstantinos Kontomichis
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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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- PTC India Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
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