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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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- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
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