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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
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- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Ministry of Mines - Canada
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- McConnell Dowell - Australia
- Australian Coal Association
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
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