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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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Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
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- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
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