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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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Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
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- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
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