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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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Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
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- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
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