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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, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
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- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
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