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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, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
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- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Australian Coal Association
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
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