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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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Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
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Showing 11 to 15 news of total 6846 |
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- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Economic Council, Georgia
- PTC India Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
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