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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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Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
Friday, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
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- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- CNBM International Corporation - China
- PTC India Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
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