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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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Wednesday, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
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