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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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Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
Thursday, 16 April 20
MARKET INSIGHT - INTERMODAL
As everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch the reaction of tanker rates that were in ...
Monday, 13 April 20
SUPRAMAX: A 56,000DWT SHIP WAS FIXED DELIVERY PARADIP, REDELIVERY CHINA, AT $4,700 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Saturday, 11 April 20
FAQ: COVID-19 AND CLUB COVER - UK P&I
KNOWLEDGE TO ELEVATE
The Coronavirus (COVID-19) pandemic has generated a significant number of enquiries and questions from Members in recent ...
Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,500,000-1,620,000 Metric Tons (M ...
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- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
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