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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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Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
Wednesday, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnes ...
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- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- VISA Power Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
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