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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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Thursday, 23 January 20
COAL-BASED ELECTRICITY GENERATION SURGES 95% IN 2019 - PROFIT PAKISTAN TODAY
Coal-based power generation jumped 94.5 percent to 2,030 Gigawatt hours (GWh) in the year to November 2019, taking its share in the country’s ...
Wednesday, 22 January 20
INDIA: COAL PRODUCTION FROM CAPTIVE MINES RAISES 24% OUTPUT IN APRIL TO DECEMBER - FINANCIAL EXPRESS
Coal production from captive mines in the first nine months of the ongoing financial year was up 24% year-on-year (y-o-y) at 40.93 million tonne (M ...
Wednesday, 22 January 20
SHIPPING MARKET INSIGHT - INTERMODAL
It seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticip ...
Tuesday, 21 January 20
IRON ORE - 5 THINGS TO WATCH IN 2020 - WOOD MACKENZIE
Wood Mackenzie identifies five trends that will impact the iron ore industry.
Slower demand growth (especially in China) and a decen ...
Tuesday, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
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- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Economic Council, Georgia
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