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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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Sunday, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
Thursday, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
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- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- The University of Queensland
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
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