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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
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- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
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