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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, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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