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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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Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
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- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
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