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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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Tuesday, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - 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 ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
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- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
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