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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, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
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- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
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