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