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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, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
Tuesday, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and i ...
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- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
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