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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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Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
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- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Australian Coal Association
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- White Energy Company Limited
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
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