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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, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
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- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- McConnell Dowell - Australia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- White Energy Company Limited
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
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