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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, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
...
Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
Tuesday, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when ...
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- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
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